Emirates Telecommunications Corp. (ETISALAT), the biggest phone company in the Middle East, said it is interested in buying Vivendi SA (VIV)’s stake in Moroccan carrier Maroc Telecom as it aims to expand in Africa.
The Abu Dhabi-based company, also known as Etisalat, submitted a “preliminary expression of interest” for Vivendi’s 53 percent stake in Maroc, according to a statement to the local stock market today. Others have also expressed interest in the stake, the company said.
Etisalat joins companies including KT Corp. (030200), South Korea’s second-largest mobile-phone carrier, in expressing interest in the Moroccan carrier. Maroc’s Paris-listed shares has a market capitalization of 8.4 billion euros ($11.2 billion).
Vivendi’s shares climbed 0.8 percent to 16.67 euros in Paris today.End
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