Etisalat, the UAE based Emirates Telecommunications Corporation has acquired the majority stake in the Moroccan telecommunications company, Maroc Telecom by investing $505 million.
- This was revealed in a press release by Abu Dhabi Securities Exchange.
Etisalat, the UAE based Emirates Telecommunications Corporation has acquired the majority stake in the Moroccan telecommunications company, Maroc Telecom by investing $505 million. This was revealed in a press release by Abu Dhabi Securities Exchange.
Etisalat acquired 8.7% stake of the Abu Dhabi Fund For Development’s in Etisalat Investment North Africa LLC (EINA). This raised Etisalat’s stake to 100% in EINA and 53% in Maroc Telecom Group. The services of Maroc Telecom in Morocco include landline and mobile telephone services, internet and online money transfer services. Apart from Morocco, the company operates in 11 countries in the region. It is listed on both the Casablanca Stock Exchange and France’s Euronext Paris, the second biggest exchange in Europe.
