Ooredoo and Etisalat in Maroc showdown

Gulf telcos left to slug it out for stake in Moroccan telco after KT withdraws bid
Morocco's telco sector offers huge potential for the winning bidder.
Morocco's telco sector offers huge potential for the winning bidder.

Share

South Korean telco KT Corp has withdrawn its bid for Vivendi’s 53% stake in Maroc Telecom, leaving the UAE’s Etisalat Group and Qatar’s Ooredoo as the only remaining contenders.

KT Corp decided to withdraw its bid owing to concerns about the costs of servicing debt for the deal and tax issues, according to a report from Reuters, which cited an internal note obtained from the operator.

In February, Reuters reported that Etisalat was looking to secure loans worth up to $8 billion to fund its bid for a 53% stake in the Moroccan operator.

Ooredoo, Qatar’s incumbent telecom operator, hired JP Morgan Chase to advise it on a potential bid for the stake, it was reported in December.

Vivendi is targeting at least EUR 5.5 billion ($7.14bn) for its 53% stake in Maroc Telecom.

Last November, Maroc Telecom featured prominently in CommsmEA's listing of the MEA region's Top 20 Telecom Operators.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story