Emirates Telecommunications Corporation (Etisalat) has completed its acquisition of Vivendi’s 53% shareholding in Maroc Telecom, Morocco's largest telco player.

The acquisition price totalled €4,138m and Etisalat will now start to consolidate Maroc Telecom and its subsidiaries.

The transaction was effective through the acquisition of Etisalat International North Africa LLC of Vivendi’s 53% controlling share in Maroc Telecom.

As per stock market regulations in Morocco, filing of a tender offer to acquire the remaining shares in a company is mandatory when a legal entity comes to own, directly or indirectly, more than 40% of the voting rights of that company.

As a result, Etisalat will make an initial filing of the tender offer documentation with the Moroccan Capital Market Authority within the prescribed time period.

Last week, Maroc Telecom announced its plans to purchase Etisalat’s West African Business for US$650m.

The sale will include Atlantique Telecom, Etisalat’s wholly owned subsidiary, which has operations in Benin, Central African Republic, Gabon, Ivory Coast, Niger and Togo and will not include the company’s Nigerian operations.