Etisalat secures $4.36bn facility to close Maroc Telecom stake deal

April 29, 2014 1:50 pm

Etisalat has said it has signed a two-part €3.15bn ($4.36bn) facility to help fund its acquisition of a 53% stake in Maroc Telecom, Reuters has reported. Although Etisalat priced the loans in Euros, they can also be utilised in dollars, the Abu Dhabi-based telecoms form said, adding 17 local, regional and international banks were financing the facility. The funds will be used for the closing of Etisalat’s purchase of the stake in Maroc Telecom from France’s Vivendi.