Etisalat reported a 26 percent jump in second-quarter profit on Sunday, beating analysts' estimates, as the UAE firm's acquisition of a majority stake in Maroc Telecom bolstered its bottom line.
The former telecom monopoly
Abu Dhabi gave Etisalat a $500 million grant towards its 4.14 billion euro ($5.64 billion) purchase of 53 percent of Maroc Telecom, the company's prospectus for a planned bond issue shows.
The grant provides further evidence o
Etisalat, which this month bought a 53 per cent stake in Maroc Telecom, has scrapped an offer to buy the remaining shares in the Moroccan firm, the UAE operator said on Friday.
In a filing to Abu Dhabi's bourse, Etisalat said
Etisalat, which this month bought a 53 percent stake in Maroc Telecom, has submitted a mandatory tender offer to buy the remaining shares in the Moroccan firm, the United Arab Emirates operator said on Wednesday.
UAE-based Etisalat, a leading telecommunications group in the region, has completed the acquisition of 53-per cent shareholding in Morocco’s Itissalat Al Maghrib or Maroc Telecom from Vivendi, a French mass media and telecom giant.
Emirates Telecommunications Corporation (Etisalat), a leading telecoms operator in the Middle East, Asia and Africa, said today that it expects to close the acquisition of Vivendi’s 53 per cent shareholding in Itissalat Al Maghrib (Maroc T
Etisalat has signed an agreement with Maroc Telecom for the sale of its shareholdings in seven companies in six French-speaking West African states for $650 million.
A statement said Etisalat, Atlantique Telecom and Etisalat Inter
An Abu Dhabi state-owned fund is financing a quarter of Etisalat's 4.2 billion euro ($5.8 billion) purchase of Vivendi's stake in Maroc Telecom, said three bank sources with knowledge of the deal, adding it should close this week.
Abu-Dhabi-based telecoms firm Etisalat has asked banks to extend commitments to an acquisition loan backing its 4.2 billion euro ($5.79 billion) purchase of a stake in Maroc Telecom but will not pay fees until the deal closes, bankers said.
Vivendi has agreed terms to sell its 53 percent stake in Maroc Telecom to UAE's Etisalat for 4.2 billion euros ($5.67 billion), the latest step in the French conglomerate's attempts to become more media-focused.