UAE’s Etisalat receives USD500m from Abu Dhabi

27 May 2014

(MENAFN) Etisalat has been awarded a USD500 million from Abu Dhabi for its USD5.64 billion purchase in Maroc Telecom, according to the Emirates 24/7.

The Australian Financial Review newspaper reported that Etihad Airways has also benefited from the USD3 billion worth loan granted by the government.

“In connection with the acquisition, the group received an amount of USD500 million as a grant from an entity owned by the government of Abu Dhabi,” a report by the company stated.

Etisalat has already chosen four major domestic banks for the loan issuance, and is expected to start marketing the bond in the coming seven days.

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