Etisalat loan in doubt as Zain shareholder says takeover is off

Emerging market loans bankers’ hopes for a jumbo deal backing UAE telecoms company Etisalat’s acquisition of a 46% stake in Kuwaiti peer Zain have taken another blow. The deal, which was set to be funded by a $6bn bridge loan and $6bn of three and five year loans, is in doubt after the main seller said in a statement to the Kuwaiti bourse: “We declare an end to our commitment.”