Etisalat has taken on a US$4.36 billion loan to help fund its acquisition of a 53 percent stake in Maroc Telecom, and expects the deal to go through by the end of next month.
HumanIPO reported in March on the timeframe for the protracted deal, and the Abu Dhabi-based operator said in a bourse statement today it has taken on a two-part loan facility to help fund the deal.
Etisalat agreed to buy the stake in Maroc Telecom from France’s Vivendi in November following protracted negotiations, in spite of a last minute US$9.4 billion bid from Vodafone.
The September deadline between Etisalat and Vivendi was postponed to the end of October, with the deal finally being signed in November.
