Paris, April 25, 2013 (MAP)
Vivendi announced that it has received two binding offers for its 53% stake in Maroc Telecom, the largest telecoms operator in Morocco.
The two bidders are Etisalat, the Emirates-based telecoms group operating in a dozen African countries and Ooredo, the newly renamed Qatari telecoms group, already present in Algeria and Tunisia.
The French Group which will be holding its general assembly on April 30, will examine the proposals during the coming weeks, in the best interests of both Vivendi and Maroc Telecom shareholders, the French group said in a statement.
Vivendi hopes to get 4.5 billion Euros from the deal but needs to get the green light of the Moroccan government which owns 30pc of Maroc Telecom, said French daily “Le Figaro”.
Vivendi, which has over 58,000 employees, combines the world leader in video games (Activision Blizzard), the world leader in music (Universal Music Group), the French leader in alternative telecoms (SFR), the Moroccan leader in telecoms (Maroc Telecom), the leading alternative broadband operator in Brazil (GVT) and the French leader in pay-TV (Canal+ Group).
In 2012, Vivendi achieved revenues of EUR29 billion and adjusted net income of EUR2.55 billion
