Qatar’s Ooredoo (formerly Qatar Telecom) has walked away from the bidding for a 53 per cent stake in Maroc Telecom, the largest fixed-line and mobile telecom operator in Morocco.

Ooredoo’s decision leaves UAE telecom firm Etisalat as the only remaining bidder still in discussions about buying the stake from current owner Vivendi, the French telecoms firm. The acquisition is expected to be worth more than $5.5bn.

Nasser Marafih, Ooredoo’s chief executive officer, said: “Although Maroc Telecom represents a good fit for our global portfolio, it is no longer in the best interests of our shareholders to continue to commit capital to what has become a lengthy process.”

Etisalat is understood to be continuing negotiations with Vivendi about the potential acquisitions, which would be one of the largest in the Middle East this year if it goes ahead.