Morocco smiles on Gulf investors, some of the time

Officially, it’s all smiles as Morocco’s Gulf partners – some traditional friends and some newer – consolidate their business and social ties. Gulf officials made headlines (and raised eyebrows) locally by promising ‘$100bn’ of investment in the next decade at a recent high-profile Gulf Invest conference in Tangier. Qatari and Emirati investors are battling it out for Morocco’s biggest current deal, to buy French conglomerate Vivendi’s 53% stake in Maroc Telecom – but GSN understands that may not end in smiles for the Gulf parties if an alternative bid can be put together by major local players.