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FINANCIAL NEWS
UAE’s Etisalat inks USD4 b loan deal
28 Apr 2014
(MENAFN) UAE telecom operator Etisalat has recently signed a USD4.836 billion deal on a loan with 17 banks, according to the Emirates 24/7.
The company plan to fund its purchase of Vivendi stake in Maroc Telecom through the loan.
Etisalat agreed to purchase 53 per cent stake in Vivendi’s for USD5.393 billion in 2013, as well as a USD414.91 million dividends from the Moroccan firm in 2012.
The company could make an 11 percent growth in its net profit in the first quarter in 2014 reaching USD 544 million.
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