Wednesday 23 January 2013

Etisalat CEO Weighs Financing for $6 Billion Vivendi Maroc Stake - Bloomberg

Emirates Telecommunications Corp. (ETISALAT), the Middle East’s second-biggest phone company by market value, said it’s weighing finance options for the potential acquisition of Vivendi SA (VIV)’s $6 billion stake in Maroc Telecom. (IAM)
“We are very much underleveraged and we have the cash; that leaves us with all options open,” Group Chief Executive Officer Ahmad Julfar said in an interview in Davos today. “We can fund with all the cash we have, partly with the cash we have, or completely through debt financing,” he said.
The Abu Dhabi-based company, known as Etisalat, said this month it submitted a preliminary expression of interest for Vivendi’s 53 percent stake in Maroc Telecom. Etisalat had about 12.2 billion dirhams ($3.3 billion) in cash at the end of the third quarter, according to data compiled by Bloomberg.
Etisalat CEO Weighs Financing for $6 Billion Vivendi Maroc Stake - Bloomberg

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