• About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Infrastructure Telecom

Etisalat signs deal to take over an additional 4.6% stake in the Maroc Telecom Group

The Emirates Telecommunications Group Company PJSC (Etisalat), will fully take over Etisalat Investment North Africa LLC (EINA) for $505 million

Sakshi K S by Sakshi K S
August 18, 2021
in Telecom, Mergers & Acquisitions, Technology, Top Stories
Reading Time: 1 min read
0
Etisalat signs deal to take over an additional 4.6% stake in the Maroc Telecom Group

Etisalat signs deal to take over an additional 4.6% stake in the Maroc Telecom Group

928
SHARES
5.2k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInFacebook

Etisalat finalized a contract to take over an additional 4.6% stake in the Maroc Telecom Group. This acquisition will increase the telecom mogul to obtain operative ownership in Maroc Group’s equity from 48.4% to 53%. The UAE-based goliath of telecom – Etisalat, will build its proprietorship in Maroc Telecom Group by completely securing Etisalat Investment North Africa LLC (EINA) for $505 million from the Abu Dhabi Fund for Development.

The group operates in 16 countries across the Middle East, Asia, and Africa, with a customer base of more than 156 million customers. With this kind of abundant customer base, Etisalat is considering developing 6G, which is the next-gen mobile network that facilitates instantaneous connectivity.

Maroc Telecom works in 11 nations in Morocco and West Africa and offers telecom facilities, including mobile and fixed voice, broadband, and mobile-centric payments.

EINA possesses stakes in Maroc Telecom Group via Société de Participation dans les Télécommunications (SPT). This deal will expand Etisalat Group‘s gripping possession from 48.4% to 53% stake in Maroc Telecom Group.

The group will completely attain EINA by expanding its equity by up to an 8.7% stake, an arrangement which will be supported by bank borrowings, the telecom said in an explanation on Abu Dhabi Securities Exchange.

In 2014 the group got tied up with Maroc Telecom, via EINA, in which Etisalat claimed a 91.3% stake and state-possessed Abu Dhabi Fund for Development held the remaining 8.7% stake. The acquisition, which will be financed by bank borrowings, will expand Etisalat’s proprietorship in EINA to 100%.

The exchange will emphatically affect the group’s amalgamated net profits because of the lower minority interest of cohesive group results and possibly higher future profits from Maroc Telecom.

Via: Short URL
Tags: equityetisalatmaroc telecommergers and acquisitionstechnologytelecom
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

Related Posts

Indonesian Parliament Approves $216 Billion State Budget
Economy

Indonesian Parliament Approves $216 Billion State Budget

by Riya Thomas
September 21, 2023
Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy
Economy

Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

by The Global Economics
September 20, 2023
Toyota's Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena
Transportation

Toyota’s Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena

by Riya Thomas
September 19, 2023
China’s Trade War Expands Beyond Semiconductors
Lifestyle

China’s Trade War Expands Beyond Semiconductors 

by The Global Economics
September 19, 2023
Apple's Annual Launch Event 2023 - iPhone 15, Apple Watch Ultra 2, and More 
Technology

Apple’s Annual Launch Event 2023 – iPhone 15, Apple Watch Ultra 2, and More 

by The Global Economics
September 18, 2023
Twitter Youtube LinkedIn Soundcloud
the global economics logo

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

UK Banks Announce Closure of 36 More Branches

UK Banks Announce Closure of 36 More Branches

September 22, 2023
Indonesian Parliament Approves $216 Billion State Budget

Indonesian Parliament Approves $216 Billion State Budget

September 21, 2023
Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

September 20, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version