South Korean KT abandons the takeover of Maroc Telecom

by bold-lichterman

From now on, only two candidates would remain in contention for the takeover of Maroc Telcom, from which Vivendi hopes to draw 5.5 billion euros by selling its stake.

The operator KT would have, in fact, recently sent a letter in which he explains wanting to give up making a firm takeover offer concerning the sale of the 53% of Maroc Telecom held by the Vivendi group.

This decision would be motivated by two factors: the fear of excessive tax pressure and a difference in valuation of the transaction between that issued by KT and that expected by Vivendi.

According to Reuters, which relays the information, the South Korean would nevertheless have specified that he did not exclude various possibilities of partnerships or investments in the company.

Following this announcement, two candidates are still in the race: Etisalat and Ooredoo.