Etisalat hits $12bn deal hitch but bankers stay positive
A $12bn loan supporting Etisalat’s acquisition of a 51% stake in Kuwait-based Zain will go ahead despite the deal hitting a stumbling block over the weekend, said syndicated loans bankers on Monday.
Zain needs to sell its 25% holding in Zain Saudi in order for the deal to receive Saudi Arabian regulatory approval but the Kuwaiti firm on Saturday rejected three bids for the stake.
Its a negotiating tactic, said a banker bidding for Etisalats loan mandate. The message is
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