UAE's Etisalat waiting to hear on Maroc Telecom bid

CEO says he has yet to hear back from Vivendi on bid for its 53% stake in telco

Etisalat has yet to hear back from Vivendi on its bid for the French firm's 53 percent stake in Maroc Telecom, the chief executive of the UAE's No.1 telecom operator said on Wednesday.

Etisalat and regional rival Ooredoo (Ooredoo) both made binding bids for the stake in late April.

But Etisalat has yet to hear back from Vivendi, the UAE firm's CEO Ahmad Julfar told reporters on the sidelines of a conference in Dubai.

Etisalat has not bid for the Morocco government's 30 percent stake in Maroc Telecom, Julfar said.

Under Morocco financial rules a buyer could be obliged to launch a bid for the free float shares.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Accounting meets religion in challenge for Islamic banks

Accounting meets religion in challenge for Islamic banks

Reconciling accounting standards and religious principles is...

Banking on reforms in Kuwait

Banking on reforms in Kuwait

As Kuwait stares down its first deficit in 20 years, the Gulf...

Saudis face dilemma between size and pricing in debut bond sale

Saudis face dilemma between size and pricing in debut bond sale

Riyadh is under pressure to maximise the size of its international...

Most Discussed
sponsoredTracking