Etisalat could be required to take on a local partner if it wants to complete its purchase of Vivendi’s 53 per cent stake in Moroccan operator Maroc Telecom.
Etisalat’s takeover bid has stalled in recent weeks despite rival Qatari Ooredoo pulling out of the race and a speculated move by Orange Group yet to materialise.
Negotiations have been ongoing between Vivendi and Etisalat since late April and Reuters is now reporting the government, which owns a 30 per cent stake in the operator and has to approve the sale, wants the new owner to commit to investing in mobile and broadband infrastructure.
A source involved in the negotiations told the news agency: “Morocco would like to be able to rely on another solid Moroccan partner that could eventually become the voice of Morocco within the company’s board.”
It is thought any local partner involved in the deal could purchase the 17 per cent stake on the stock exchange, which is part of the government’s 30 per cent.
