France Telecom Sees Strategic Interest in Buying Maroc Tel - Report

Acquiring Vivendi SA's (VIV.FR) Maroc Telecom (IAM.CL) unit could have "strategic interest" for France Telecom SA (FTE.FR), Chief Executive Stephane Richard said in an interview with French business daily Le Figaro Wednesday.

"This could have strategic interest but it is out of the question to be limited to a calendar or valuation," Mr. Richard told the newspaper.

France Telecom has very limited means to make acquisitions due to its large debt and low share price, Mr. Richard said. "But this doesn't hold us from looking for ways to seek interesting opportunities," he added.

Vivendi has been in the midst of a strategic review since spring and is considering deals that would shift it away from telecommunications to focus on the media business.

The group has given financial information about its Maroc Telecom unit to several potential bidders, and hopes to complete a sale as early as the first quarter, people familiar with the process have said.

Vivendi owns approximately 53% of Maroc Telecom. It is also in the process of selling Brazilian telecoms unit GVT.

Newspaper website: http://www.lefigaro.fr

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