Etisalat Misr secures USD845 million loan

9 Jan 2008

Etisalat Misr, Egypt’s newest wireless network operator, has signed a USD845 million loan agreement with Arab Bank Group. The funds will be used to finance the cellco’s expansion plans. In less than seven months of operation Etisalat Misr has signed up three million subscribers. UAE-based Etisalat owns 66% of the Egyptian company; other shareholders include Egypt’s Post Corporation and Egyptian National Bank.

Egypt, Etisalat Misr