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.

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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.

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