Qatar Telecom Close to Signing $1 Billion Loan As It Eyes Maroc Telecom Purchase
Published on: 22nd Jan 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Qatar Telecom is said to be close to securing a $1 billion loan facility which could be used to finance general business operations but will also leave open speculation about further overseas acquisitions.
The company is currently thought to be eyeing a possible bid for Vivendi's 53% stake in Maroc Telecom.
The four-year loan at an unusually low interest rate is close to being signed by a consortium of banks, sources informed the Reuters news agency.
Everyone likes Qtel as a business, one of the sources said, adding: "And they weren't trying to raise too much cash either, so the deal proved to be very popular."
The company is currently thought to be eyeing a possible bid for Vivendi's 53% stake in Maroc Telecom - a stake valued at nearly USD6 billion.
On the web: Reuters