Vivendi announced today that the sale of its 53% interest in Maroc Telecom to Etisalat has been completed, as indicated in Vivendi’s May 8th press release.
The final sale price, in accordance with November 2013 agreements amounted to €4.138 billion, after price adjustments.
The sale of Maroc Telecom is part of the Group’s strategy to refocus on and develop its media and content businesses. The closing also enables Vivendi to continue its deleveraging. With the sale of SFR, the group will complete its transformation and be in a strong position to evolve into new areas.
Jean-René Fourtou, Chairman of Vivendi’s Supervisory Board and Vice-Chairman of Maroc Telecom’s Supervisory Board, said: “Vivendi has been particularly pleased and proud to support Maroc Telecom in its national and sub-Saharan Africa development. I would like to acknowledge the excellent partnership forged with the Kingdom of Morocco during this period and the remarkable quality of the management and the teams of Maroc Telecom. A new chapter is being written today by Vivendi as we aim to grow in media and content. I welcome the recent agreement with Etisalat allowing Maroc Telecom to deploy its activities in nine Africancountries.With Etisalat, its new shareholder, Maroc Telecom will be fully equipped to also take new steps towards growth. “
Vivendi groups together leaders in content and media. Canal+ Group is the French leader in pay-TV, also operating in French-speaking Africa, Poland and Vietnam; its subsidiary Studiocanal is a leading European player in production, acquisition, distribution and international film and TV series sales. Universal Music Group is the world leader in music. GVT operates fixed very high-speed broadband, fixed-line telephony and pay-TV services in Brazil. In addition, Vivendi owns SFR, a French leader in alternative telecoms.
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