Qatar Telecom Close to Signing $1 Billion Loan As It Eyes Maroc Telecom Purchase

Published on:

Note -- this news article is more than a year old.

By:

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

Page Tools

 

Tags: qatar telecom  maroc telecom  Qatar 

Sign up for our free daily email news alerts

Sample Copy