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.
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