Emirati telecom Etisalat to sell W. African stakes
DUBAI, United Arab Emirates (AP) — United Arab Emirates telecommunications firm Etisalat says it plans to sell its operations in six West African countries to Maroc Telecom as it prepares to take majority control of the Moroccan company.
Abu Dhabi-based Etisalat announced the sale Monday of its operations in Benin, the Central African Republic, Gabon, the Ivory Coast, Niger and Togo. It valued the deal at $650 million.
French entertainment company Vivendi in November agreed to sell its 53 percent stake in Maroc Telecom to Etisalat for 4.2 billion euros ($5.8 billion) as it refocuses its business around media and content only.
Etisalat says completion of the deal depends on the Vivendi sale as well as regulatory approvals.
Maroc Telecom already has operations in the west African nations of Mauritania, Burkina Faso, Mali and Gabon.