PARIS, May 16 — French multinational mass media and telecommunication company Vivendi says it has completed the sale of its 53 per cent stake in Maroc Telecom, Morocco’ main telecommunications service provider, to the United Arab Emirates-based operator Etisalat.
The final price of the sale, in conformity with agreements concluded in November 2013, stands at 4.138 billion euros, after currency adjustments, said Vivendi in a statement here Wednesday. The transfer of Maroc Telecom is part of the Vivendi Group’s strategy seeking to refocus and clear its debts, it added.
Vivendi was proud to support Maroc Telecom in its development nationally and in sub-Saharan Africa, said Jean-René Fourtou, Vivendi’s Chairman and Vice-President of Maroc Telecom’s Supervisory Board. Fourtou applauded the recent agreement signed with Etisalat which enables Maroc Telecom to operate in nine African countries.
– BERNAMA-NNN-MAP
