Vivendi is expected to choose a preferred bidder for its 53 per cent stake in Moroccan part state-owned operator Maroc Telecom next week.
Etisalat, based in the United Arab Emirates (UAE), and Qatar’s Ooredoo are the two bidders, themselves are both wholly or part state-owned.
Reuters is reporting Vivendi would accept a bid of €5 billion (US$6.5 billion), despite its current market value being around US$5.9 billion.
Morocco’s government owns 30 per cent of Maroc Telecom and will have to approve Vivendi’s choice of bidder.
Once Vivendi chooses a bidder from the two Middle East companies, they will enter exclusive negotiations.
If a buyout is completed, the successful bidder will have to make an offer to minority shareholders.
