Emirates Telecommunications Corp. plans to meet lenders next week in London to discuss terms on more than $10 billion of debt to fund its bid for a stake in Kuwait’s biggest phone operator, three people familiar with the situation said.
Etisalat, as the United Arab Emirates’ largest phone company is known, may hold the bank meeting by Dec. 16, said the people, who declined to be identified because the talks are private. The deal would be the largest acquisition financing by a company in the Middle East and Africa since at least 1999, according to data compiled by Bloomberg.
Abu Dhabi-based Etisalat said on Sept. 30 it offered about $12 billion for a 46 percent stake in Mobile Telecommunications Co., or Zain.
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