Etisalat picks banks for $6bn Maroc buy

Etisalat, the United Arab Emirates' biggest telecommunications operator, has hired banks to advise on its planned acquisition of Vivendi's 53 percent stake in Maroc Telecom, banking sources aware of the matter said. The state-controlled firm picked BNP Paribas and Morocco's Attijariwafa Bank as financial advisers, the sources said, speaking on condition of anonymity as the matter has not been made public. A spokesman for Etisalat declined to comment. Vivendi, the French media, entertainment and telecoms conglomerate, is looking to sell several assets as part of an overhaul aimed at cutting debt and reducing its exposure to the capital-intensive telecoms business.