Operator is paying 4.2bn for 53 per cent stake
The 4.2bn ($5.7bn) deal is one of the years largest transactions involving a regional company. The sum is based on a valuation of MD7.40 per share.
The two companies have been in exclusive negotiations over the sale since 22 July. Prior to that, Qatars Ooredoo expressed interest in the stake, but withdrew its bid in June.
Etisalats stake in the Moroccan operator will allow it to strengthen its presence in French-speaking countries in the region, with both running operations in West Africa.
Not all of its acquisitions abroad have been successful in India, it was forced to shut down operations after the government cancelled 122 second-generation (2G) mobile licences last year, causing the company more than $1bn in losses.
The Maroc Telecom acquisition, however, signals a more strategic approach to its international expansion and is viewed as a well-priced deal by analysts.
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