Monday 26 May 2014

Etisalat given $500 million grant by Abu Dhabi for Maroc Telecom deal - The Economic Times

Etisalat given $500 million grant by Abu Dhabi for Maroc Telecom deal - The Economic Times:



"Abu Dhabi gave Etisalat a $500 million grant towards its 4.14 billion euro ($5.64 billion) purchase of 53 percent of Maroc Telecom, the company's prospectus for a planned bond issue shows.



The grant provides further evidence of the emirate's support for its companies' foreign expansion and could attract complaints from rival operators.



Fellow Abu Dhabi-based company Etihad Airways benefited from a $3 billion interest-free loan from the emirate's ruling family, the Australian Financial Review newspaper said last week, leading to complaints from rival airlines about state subsidies distorting competition. "



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