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Saudi Telecom seeks $2.7bn loan
- Saudi Arabia: Tuesday, February 12 - 2008 at 07:34
Saudi Telecom is seeking an Islamic loan of as much as 10bn riyals ($2.7bn) to buy a stake in Oger Telecom, reported Bloomberg. The Riyadh-based company asked a group of local banks to submit loan offers in riyals for as long as seven years. The firm aims to raise the money by the end of March, but the amount borrowed may be reduced if Saudi government funds agree to join the financing.
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