United Arab Emirates Telecoms Company, Etisalat, has agreed to sell its businesses in six West African countries to Maroc Telecom as part of asset combination pending a $5.8 billion acquisition of Maroc Telecom from Vivendi SA.
The deal, of $650 million value, includes Etisalat units in Benin, Central African Republic, Gabon, Ivory Coast, Niger and Togo, which are under Atlantique Telecom, Etisalat’s wholly-owned West African subsidiary, that provide mobile voice and data services, Etisalat said in a statement. Putting the West African assets under Maroc Telecom would extend its reach beyond Morocco, Mauritania, Burkina Faso, Mali and Gabon.
The deal is subject to the completion of a prior-agreed deal to buy Vivendi’s 53% stake in Maroc Telecom. Etisalat expects the acquisition to be completed by the end of May.
Photocredit: Bruce Afruz
