Kuwaiti-based telecoms provider Hits Telecom Holding Company has entered into a US$43m 5-year loan deal with Swiss investment firm Global Emerging Markets, which will become a strategic investor.
A spokeswoman for Hits confirmed that the group will…
Kuwaiti-based telecoms provider Hits Telecom Holding Company has entered into a US$43m 5-year loan deal with Swiss investment firm Global Emerging Markets, which will become a strategic investor.
A spokeswoman for Hits confirmed that the group will repay the debt in five years through a combination of cash and equity.
Further financial information was not disclosed.
As well as the Middle East, Hits has operations in Africa, America and Europe.
In November 2010, its African subsidiary raised its stake in Liberian mobile operator LiberCell from 30% to 55% for around US$17m.
Global Emerging Markets was unable to comment before the press deadline.
