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 Reuters
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)