Maroc Telecom has closed the acquisition of six businesses in Africa that previously belonged to its new parent company Etisalat.
The Moroccan incumbent on Tuesday revealed that the final purchase price came in at €474 million.
The deal sees it take control of Etisalat subsidiaries in Benin, Ivory Coast, Gabon, Niger, Central African Republic and Togo. The deal also includes Prestige Telecom, an Ivory Coast-based IT services provider.
"Finalising this acquisition marks an important milestone in the development of the Maroc Telecom group, and consolidates its strategic position as a major telecom player in Africa, with a presence in 10 countries with high growth potential," said Maroc Telecom chairman Abdeslam Ahizoune, in a statement.
The deal, which was announced in May last year, was conditional on Etisal at’s successful acquisition of Vivendi’s 53% stake in Maroc Telecom. After a lengthy preamble, the United Arab Emirates-based operator closed the €4.14 billion purchase later that month, but subsequently abandoned a bid for the outstanding shares.
The Moroccan state holds a 30% stake in Maroc Telecom.
