Etisalat aquires stake in Maroc Telecom, Airtel aquires Warid Congo SA

Etisalat made a binding offer that valued each Maroc Telecom share at MAD 92.6, amounting to a consideration of Euro 3.9 billion (equivalent to AED 19.2 billion) for Vivendi's 53% stake in Maroc Telecom. The consideration does not include the dividend received by Vivendi from Maroc Telecom in respect of the 2012 financial year, equivalent to MAD 7.40 per share, which will also be for the benefit of Etisalat. At closing, Etisalat will pay Vivendi the cash value of such 2012 dividend of Euro 0.3 billion (equivalent to AED 1.5 billion).

Closing of the acquisition of Vivendi's stake in Maroc Telecom by Etisalat is subject to a number of conditions. These include, among others, the execution of a shareholders' agreement with the Kingdome of Morocco regarding Maroc Telecom, securing competition and regulatory and approvals in the Kingdom of Morocco and certain other relevant jurisdictions in Maroc Telecom's footprint.

Airtel - market leader in Congo Brazzaville

Bharti Airtel (Airtel) has entered into a definitive agreement with the Warid Group (Warid) to fully acquire Warid Congo SA. The agreement is subject to regulatory and statutory approvals.

The agreement marks the second in-country acquisition by Airtel in Africa. It had acquired Warid's Uganda operations earlier this year.

The agreement aims to bring together the strengths of Airtel and Warid in Congo Brazzaville and benefit customers in the form of affordable tariffs, superior 2G/3G network, affordable voice and data services and superior customer care. In addition, existing Warid customers in Congo Brazzaville will join Airtel's global network of over 280 million customers and enjoy the benefits of 'One Airtel' network with affordable roaming rates across Africa and South Asia, besides other exciting bouquet of innovative 2G and 3G services.