Etisalat completes $5.6bn Maroc Telecom deal

The deal was expected to be closed on May 14
Maroc Telecom

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Etisalat has closed its purchase of Maroc Telecom from Paris-listed Vivendi for 4.14 billion euros ($5.67 billion).

The UAE operator has completed the acquisition of 53 percent stake in Maroc Telecom, it said in a statement on Wednesday. The deal was expected to be closed on May 14.

Etisalat International North Africa (EINA) is the separate legal entity with which Etisalat completed the purchase with Maroc Telecom. Etisalat owns 91.3 percent of EINA, with Abu Dhabi Fund for Development holding the remainder.

The Abu Dhabi Fund for Development is an Abu Dhabi government-owned institution that provides concessionary loans and grants for projects in other countries, according to its website.

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