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FINANCIAL NEWS
Etisalat Egypt secures $1.2b loan
23 Dec 2010
(MENAFN) Etisalat Egypt, a subsidiary of UAE-based, Emirates Telecommunications Corp., revealed that it has secured a $1.2 billion loan for its infrastructure expansion, over the upcoming three years, Bloomberg reported.
According to a company statement, the mentioned loan was granted by five separate banks, which will provide 76 percent of the long-term financing in Egyptian pounds and the rest in dollars.
It is worth noting that Etisalat Egypt is the country’s third-largest mobile-network operator, and by the end of the current year, Egypt’s mobile-phone market is forecasted to grow to 74.9 million subscribers.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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