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Zain Iraq buys Iraqna for $1.2bn

  • Iraq: Monday, June 23 - 2008 at 14:45

Orascom Telecom is selling Iraqna to Zain Iraq in a $1.2bn deal. The National Bank of Kuwait announced it is the sole arranger for the deal, where Zain Iraq would pay for the deal in two tranches of $600m each in 2008 and the other in 2009. Iraqna is a subsidiary of Orascom Telecom.

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