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Etisalat eyes sukuk, bank loans for Zain deal – paper

Abu Dhabi-based Etisalat will not receive financing from the Abu Dhabi government-says Chief Financial Officer .

October 13, 2010 10:52 by

UAE’s telecoms operator Etisalat is in talks with banks to raise financing for its planned 46-percent stake acquisition in Kuwait’s Zain and is considering an Islamic bond, bank loans or both, a top official was quoted as saying on Wednesday.

Abu Dhabi-based Etisalat, which is 60 percent state-owned, will not receive financing from the Abu Dhabi government, its Chief Financial Officer Salem Ali Al Sharhan said in remarks carried by Al Bayan newspaper.

(Reporting by Tamara Walid; Editing by Amran Abocar)

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