The Etisalat Group revealed that it has concluded the transaction of its French-speaking West African Operations to Maroc Telecom. The declaration comes as part of the acquirement of a 53% shareholding in Maroc Telecom that took place in May 2014.
As part of this transaction, Emirates Telecommunications Corporation Etisalat, through its totally owned subsidiaries, Atlantique Telecom SA, AT, and Etisalat International Benin Limited, EIBL, productively fulfilled the transaction of Etisalat’s shareholdings in its operations in Benin, the Central African Republic, Gabon, the Ivory Coast, Niger and Togo to Itissalat Al Maghrib, Maroc Telecom.
These operations offer both mobile voice and data services and activate under the Moov brand. The transaction also involves Prestige Telecom, set up in Ivory Coast, offering IT services to these equivalent ventures.
The conclusive concern in return for Etisalat’s equity and receivables, as well as shareholder loans, from these seven establishments amounts to Euro 474 million.
The concoction of Maroc Telecom’s existing West African resources with Etisalat’s Atlantique Telecom resources will make in the formation of robust French speaking West African providing that will advantage from essential scale. This deal will allow Etisalat to extensively reinforce its position in Africa via Maroc Telecom.