Orange are reported to be pondering a late bid for fellow French company Vivendi’s 53 per cent stake in Maroc Telecom, just as Etisalat were expected to be given a clear run.
The Moroccan operator has been the subject of a protracted potential takeover, with United Arab Emirates-based Etisalat competing with Qatari Ooredoo, but the latter withdrew its offer on Friday, according to Reuters.
Jeremy Sell, Ooredoo’s chief strategy officer, said: “The two reasons we pulled out were valuation and frustration with the process.”
The Wall Street Journal reported today however that Vivendi was trying to urge Orange, which is currently looking at expanding into the African market, to bid for its stake.
A spokesman at Orange told the Wall Street Journal: “It’s something we’re looking at because it’s strategically interesting, but there’s no offer on the table.”
The Vivendi stake is expected to be worth around US$5.6 billion.
