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FINANCIAL NEWS
Etisalat’s Nigerian unit secures USD1.2b loan
22 May 2013
(MENAFN) Etisalat Nigeria announced that it has signed a medium term loan facility of USD1.2 billion, reported Gulf News.
The Nigerian operation unit of the UAE telecommunication services operator said that the aim of the loan is to cover the debt of USD650 million and to resume its business across the country.
The company’s first quarter net profits witnessed a 1-percent increase on yearly basis reaching USD489 million, and the revenue went up 17 percent to USD2.61 billion.
It’s worth mentioning that Etisalat has operations in 15 countries in the Middle East, Africa, and Asia.
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