Qatar Telecom (Qtel) is close to clinching a $1 billion loan facility that will help to finance its general business operations, banking sources told Reuters on Tuesday.
The deal, which will run for four years, is in the documentation stage and will be signed once all lenders have completed this process, the three sources said, speaking on condition of anonymity.
State-owned Qtel, Qatar's largest telecoms operator, has been on an acquisition drive in recent months, raising stakes in its subsidiaries as it takes advantage of the gas-rich Gulf state's healthy financial position at a time when other large telecoms companies are shying away from deals.
Qatar Telecom close to clinching $1 billion loan: Sources - The Economic Times
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