Gulf telecom operator Qtel has hired J.P. Morgan Chase to advise it on a potential bid for Vivendi’s Maroc Telecom, said four people familiar with the matter.
Vivendi aims to garner at least 5.5 billion euros ($7.14 billion) for its 53 per cent stake in Morocco’s biggest fixed and mobile operator, and has received initial expressions of interest from four carriers, sources told Reuters in October.
The French conglomerate is exploring selling several assets as part of an ongoing strategy review intended to pay down debt, boost a flagging share price and reduce the group’s exposure to capital-intensive telecom businesses.
No comments:
Post a Comment