Qtel to secure $1bn loan: banking sources

Qatari telco will use loan facility to help finance general business operations
QTel has made a number of deals in recent months to increase its holdings in affiliates.
QTel has made a number of deals in recent months to increase its holdings in affiliates.

Share

Qatar Telecom (QTel) is on the verge of securing a $1bn loan facility to finance general operations, Reuters reported Tuesday.

Citing three banking sources, the news agency said more than a dozen banks have pledged backing for the loan, which has a margin below 100 basis points. The sources said the deal was undergoing documentation and would be signed once all lenders had completed the process.

QTel, part-owned by the Government of Qatar, has spent recent months increasing its holdings in affiliate companies, such as Iraq-based Asiacell, Kuwait's Wataniya and Tunisia's Tunisiana.

The company is reportedly also competing for Vivendi's 53% stake in Maroc Telecom.

Editor's Choice

Deception technologies, AI and Robo Hunters to  displace legacy cybersecurity solutions
IoT is rapidly expanding the attack surface of the digital enterprise and exposing it to enhanced risk levels not seen before. Deception technologies, artificial intelligence, Robo-hunters, are solutions for tomorrow's enterprise, Mechelle Buys Du Plessis, MD – UAE, Dimension Data.
The robots are coming: Impact of AI on executive search
As the technology industry’s elite struggle to agree on the potential impact of AI and a raft of people queuing up to advise on the potential disruption it will cause, this article by John Curtis-Oliver, Partner at Boyden studies the potential impact on the executive hiring and the executive search industry.
#MWC2018: Spotlight shines on 5G, IoT and AR
Hard to predict what will ‘turn around the fate’ of telecom operators, but there is potential for those who can play the role of enabling platform for new digital services and players, as well as for new features and capabilities across traditional industries, says Luis Cirne, partner, communications, media and technology (CMT) practice at Oliver Wyman

Most popular

Don't Miss a Story

You may also like

LinkedIn reveals the biggest reasons behind job switches in the region
As employers and offers get more competitive, top talent is more eager to jump on new opportunities.
MCIT Saudi Arabia signs MoU with Huawei to boost ICT skills development
From 2018 to 2020, 1,500 Saudis will undergo training from Huawei in skills related to ICT across the board. Joint developments to Huawei’s existing CSIC facility will focus on the development and utilisation of AI and IoT technologies in enabling the Kingdom’s entrepreneurs.
STC collaborates with ConsenSys to leverage blockchain for the Kingdom
The Saudi incumbent is working on developing innovative solutions for the government sector using blockchain technologies and aims to lead in offering blockchain application in Saudi market.
TRA UAE develops the roadmap of its 2018 business and initiatives
H.E. Al Mansoori delivered a general speech addressing six topics including international developments, TRA’s role in coming phases, in addition to issues such as the 5G, Artificial Intelligence, Internet of Things, and others.