Etisalat Agrees to Buy Vivendi’s Maroc Stake for $5.7B - Bloomberg:
"Emirates Telecommunications Corp. (ETISALAT), the Abu Dhabi-based phone operator, agreed to acquire Vivendi SA’s controlling stake in Maroc Telecom SA for 4.2 billion euros ($5.7 billion) in cash.
The purchase price for the 53 percent holding includes a 7.4 dirham-per-share dividend to be paid to Vivendi after the transaction, Etisalat said today in a statement to the Abu Dhabi stock exchange. In a separate statement, Vivendi said it expects the deal to be completed early 2014.
Selling its telecommunications assets is a key part of Paris-based Vivendi’s plans to transform into a new entity built around music, pay-TV, European cinema and Internet in Brazil. Vivendi, (VIV) bowing to investor pressure to overhaul its structure, is also conducting a study to separate its French phone unit SFR as it assembles the remainder of its businesses into a new international media group based in France."
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