Moroccan operator Maroc Telecom faces continued uncertainty after it emerged Middle East-based Etisalat remains in talks with banks as it tries to fund a 53 percent share purchase.
HumanIPO reported in January that Etisalat had identified the 53 percent stake, up for sale by multinational media group Vivendi, as one which would “complement our existing operations in Sub-Saharan Africa”.
Qatar’s QTel and South Korean KT Corp are thought to be rival bidders, while Saudi Arabia’s STC and South Africa’s MTN have also been linked, but a Reuters report suggests the shares, worth around US$6 billion, could be on the way to Etisalat.
The news agency claims “banking sources” said the United Arab Emirates company was talking to banks about syndication of a US$8 billion loan to finance the transaction.
Maroc is believed to have 17 million mobile customers in Morocco, a 47.5 percent share of the mobile market and a 44 percent share of the high-speed Internet market in the country.
The company also has majority stakes in Gabon Telecom, Mauritania’s MaurieTel, Burkina Faso’s Onatel and Mali’s Sotelma.
