Saudi Arabian mobile operator Etihad Etisalat – known as Mobily – has agreed a 1.2 billion Saudi riyal ($320m) Islamic loan with an unspecified five Saudi banks, according to Bloomberg.
The company has the option to extend the 12-month loan – which is…
Saudi Arabian mobile operator Etihad Etisalat – known as Mobily – has agreed a 1.2 billion Saudi riyal ($320m) Islamic loan with an unspecified five Saudi banks, according to Bloomberg.
The company has the option to extend the 12-month loan – which is aimed at backing expansion plans – for an additional six months.
Mobily parent company Etisalat is working on closing its agreed acquisition of a 46% stake in Zain, which is contingent upon selling off Zain’s Saudi Arabian business.
