UAE telecoms firm Etisalat (ETEL.AD), bidding for a 46-percent stake in Kuwait's Zain (ZAIN.KW), sees a bank deal to finance the $12 billion offer done by the end of February, it said on Thursday.
Etisalat, the Gulf's largest telecoms firm, saw its bid for Zain face a setback this week after Zain's board rejected all bids for its Saudi affiliate, a key condition of the deal. [ID:nLDE71J02K]
The Abu Dhabi-based operator, which says it will meet a February deadline to complete due diligence on Zain, said it would agree final terms with lenders for the three-part financing it wants by the end of this month.
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