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15-05-14

UAE's Etisalat acquires 53 percent stake in Maroc Telecom

(MENAFN) Emirates Telecommunications Corporation, etisalat, has acquired the last Vivendi's 53 percent stake in Itissalat Al Maghrib (Maroc Telecom), according to Gulf News. Etisalat's acquisition was estimated at USD5.678 billion, while the company will start to consolidate Maroc Telecom and its subsidiaries from this month. Etisalat has already acquired a stake in Maroc Telecom through a separate legal entity, etisalat International North Africa (Eina). The effective interests in the capital of Eina are etisalat, at 91.3 percent, and Abu Dhabi Fund for Development, at 8.7 percent.