Vivendi Confirms Received Two Offers for Marco Telecom
24 April 2013 - 7:22PM
Dow Jones News
By Sam Schechner
PARIS--Vivendi SA (VIV.FR) Wednesday confirmed that it has
received two binding offers for its controlling stake in Maroc
Telecom (IAM.CL), after two Persian Gulf-based companies said they
had submitted them.
Vivendi didn't say which companies had submitted bids, but both
Emirates Telecommunications Corp. (ETISALAT.AD) and Qatar Telecom
(QTEL.DO) said Wednesday that they had made offers for Vivendi's
53% stake in the North African company.
Vivendi said it "will examine the proposals during the coming
weeks, in the best interests of both Vivendi and Maroc Telecom
shareholders."
Morocco's government also holds a 30% stake in Maroc Telecom,
giving it a right to approve any potential acquirer.
Write to Sam Schechner at sam.schechner@dowjones.com
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