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08-05-14

UAE's Etisalat to acquire 53 percent stake in Maroc Telecom

(MENAFN) Emirates Telecommunications Corporation (Etisalat) is expected to close a deal with Itissalat Al Maghrib (Maroc Telecom) for acquiring 53 percent stake in the latter's shareholding, according to the Emirates 24/7. The acquisition of Vivendi"s 53 percent shareholding deal is estimated at USD4.36 billion. The deal will enable the UAE telecom operator to offload assets that have added little to its bottom line to Maroc Telecom, whose operations in Gabon, Mali, Burkina Faso and Mauritania posted a 9.5 percent increase in revenue last year.