Etisalat $12bn M&A deal ‘not dead yet’, say bankers

It has been a week of ups and downs for loan bankers waiting for the $12bn financing for Etisalat’s acquisition of a 46% stake in Kuwaiti peer Zain. On Tuesday, the main selling shareholder, the Kharafi family, said in a statement to the Kuwaiti bourse: "We declare an end to our commitment."

  • 04 Mar 2011
Etisalat responded on Thursday, reconfirming its interest in the acquisition. "The exclusivity is expired, so that’s a fact. But I don’t think it’s completely dead," said a loans banker bidding for the mandate for the $6bn bridge loan and $6bn of three and five year loans that will ...

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