Etisalat Egypt secures $1.3bn loan
Cairo, May 10, 2010
The Egyptian unit of Abu Dhabi's Etisalat will borrow EGP7.2 billion ($1.3 billion) from a group of three banks, a statement from the unit said on Monday.
The funds will come from National Bank of Egypt, Banque Misr and National Bank of Abu Dhabi, the unit's chief financial officer Ehab Rochdy said in the statement, adding the funds would be used for expansion and to improve services.-Reuters
More IT & Telecommunications Stories
- Du lauches prepaid data bundles
- RTS Realtime opens data center in Dubai
- Batelco offers BlackBerry 4G LTE packages
- Etisalat yet to hear on Maroc Telecom bid
- Brocade appoints new country manager in Saudi
- UAE TRA to allocate new bands
- UAE firms ‘lacking in cloud integration’
- Microsoft unveils Xbox One console
- ICT solutions 'key to knowledge development'
- Morocco plans 4G mobile licence tenders