Etisalat to sell W.African units to Maroc Telecom for $650 mln - CNBC Africa

Etisalat to sell W.African units to Maroc Telecom for $650 mln

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Etisalat to sell W.African units to Maroc Telecom for $650 mln

Maroc Telecom will buy Atlantique Telecom, Etisalat's wholly-owned West African subsidiary, which has mobile operations in Benin, Central African Republic, Gabon, Ivory Coast, Niger and Togo. 

"The total consideration in return for Etisalat's equity in and receivables, including shareholder loans, from these seven companies amounts to $650 million," Etisalat said in the statement.

The sale is dependent on Etisalat completing a prior-agreed deal to buy Paris-listed Vivendi's 53 percent stake in Maroc Telecom. Etisalat expects that transaction to be completed by the end of May.

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