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Etisilat Misr to borrow $850m
- Egypt: Tuesday, November 06 - 2007 at 08:30
Cairo-based Etisalat Misr, a unit of Abu Dhabi-based Etisalat, plans to borrow about $850m to repay debt and help pay for a mobile network in Egypt, reported Bloomberg. Chief Financial Officer Ali Abu Hijleh said the firm is seeking a 3 billion-Egyptian pound ($547m) loan and a $300m loan. Etisalat started its Egyptian unit on May 1 after paying $2.9bn last year for Egypt's third mobile-phone licence.
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Jeff Florian, Senior ReporterTuesday, November 06 - 2007 at 08:30 UAE local time (GMT+4)
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