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Ooredoo lines up $12b loan for Maroc bid.

Summary: DUBAI - Qatar's Ooredoo, formerly Qatar Telecom, has secured a loan of up to $12 billion from a group of 10 banks to support its bid for Vivendi's stake in Maroc Telecom, several bankers working on the deal said.

DUBAI - Qatar's Ooredoo, formerly Qatar Telecom, has secured a loan of up to $12 billion from a group of 10 banks to support its bid for Vivendi's stake in Maroc Telecom, several bankers working on the deal said.

The loan is being provided by JPMorgan, Qatar National Bank, Morgan Stanley and HSBC, as well as Barclays, Deutsche Bank, Royal Bank of Scotland, Bank of Tokyo Mitsubishi UFJ, Development Bank of Singapore and Citigroup, two bankers close to the deal said.

Ooredoo's finance package also includes funds in case the Moroccan government decides to sell its 30 per cent stake in the telco -- although it is currently unclear whether it would want to divest its stake in a strategically-important sector.

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Publication:Khaleej Times (Dubai, United Arab Emirates)
Date:Apr 19, 2013
Words:173
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