Etisalat seeks loan for Maroc deal - report

UAE telecom group in talks to secure syndicated loan - Reuters
The UAE's Etisalat Group is seeking funds for its bid to acquire a stake in Maroc Telecom.
The UAE's Etisalat Group is seeking funds for its bid to acquire a stake in Maroc Telecom.


UAE telco Etisalat is in discussions with banks regarding a syndicated loan to fund a bid to acquire a stake in Maroc Telecom, according to a report from Reuters, which cited unnamed banking sources.

Etisalat is looking to secure loans worth up to $8 billion to fund its bid for a 53% stake in the Moroccan operator, from Vivendi, the report added. Etisalat has also asked banks to bid for the roles of M&A and financing advisor, according to the report.

In December 2012, Qatar’s Qtel Group, which is also interested in acquiring the 53% stake in Maroc Telecom, hired JP Morgan Chase to advise it on a potential bid for Vivendi's Maroc Telecom.

In November, Maroc Telecom featured prominently in CommsmEA's listing of the MEA region's Top 20 Telecom Operators.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story