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TMCNet:  Etisalat eyes $8 billion loan [CPI Financial]

[February 17, 2013]

Etisalat eyes $8 billion loan [CPI Financial]

(CPI Financial Via Acquire Media NewsEdge) Etisalat is reportedly in talk with banks about a syndicated loan of up to $8 billion to finance a bid for Vivendi's 53 per cent stake in Maroc Telecom Etisalat has asked banks to bid for the roles of M&A and financing advisor, reported Reuters, citing banking sources.

The sale is garnering interest from other bidders, including Qatar's Qtel, which is reportedly in talks with its relationship banks about financing a possible bid, according to sources cited by Reuters.

South Korean telecoms company KT Corp has reportedly lined up Citigroup, Credit Suisse, and Societe Generale to advise and finance a potential acquisition if its bid is successful, the newswire reported.

An $8 billion acquisition loan would be the largest Gulf merger and acquisition loan in six years.

(c) 2013 CPI Financial. All rights reserved. Provided by an company

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