UAE based Etisalat says that it has extended its talks to buy a majority stake in Morocco's Maroc Telecom.
Etisalat entered into exclusive talks with France's Vivendi to sell its majority holding stake in Maroc Telecom back in July after other bidders dropped out. The price is expected to be in the region of US$5.7 billion.
The deadline for the negotiations had been due to expire on the 25th September, but have now been extended until the 31st October.
The reason for the delay was not made clear.
Vivendi owns 53% of Maroc Telecom, with 17% listed on a local stock market. The remaining 30% is owned by the government which also has a veto over any change in ownership.
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