Ooredoo (Qatar Telecom (Qtel) Q.S.C.) – QTEL.QA today announced that it has withdrawn its offer to acquire Vivendi’s 53% shareholding in Maroc Telecom Group.

Ooredoo made an indicative offer in December 2012 and submitted a fully financed, binding offer on 24 April 2013 which met all the requirements of the process.

Dr Nasser Marafih, Group 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.  We are thus withdrawing our offer and we will focus our attention on generating value in other opportunities across our global footprint through organic and acquisitive strategies.”

 

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