Etisalat is still awaiting advice from Vivendi as to its submitted bid for its 53% shareholdings in Maroc Telecom. This was bared by the top telecommunications operator in the United Arab Emirates.
It must be recalled that Etisalat had a made a competitive bid for the stake, with its regional rival Ooredoo also making a bid for the same stake last April.
Up until the date of the news report, Etisalat has not heard a response from Vivendi. This was confirmed by Etisalat CEO Ahmad Julfar with reporters during a break in a conference being held in Dubai. Julfar also confirmed that the telecommunications firm is not bidding for the 30% stake of the Moroccan government.
Under current Moroccan financial regulations, a purchaser could be obliged to launch a bid for free float shares of a specific publicly listed company. The said sale is also subject to the approval of the Moroccan government, as it owns 30% of the firm.
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