Vivendi grows Morocco relationship


PARIS -- French media giant Vivendi has inked a deal with Moroccan institutional investment company the Caisse de Depot et de Gestion Group, the groups said late Thursday.

CDG will become a 0.6% shareholder in Vivendi, and Vivendi will increase its 51% stake in Maroc Telecom to 53%.

"This agreement demonstrates the quality and enduring relationship between the Kingdom of Morocco and Vivendi, begun in 2001 and reinforced through multiple partnerships," Vivendi said.

The acquisition will take the form of an exchange of shares over the next few weeks.