Etisalat seeks USD 2 bln loan - report

UAE operator Etisalat is seeking a three-year syndicated loan of up to USD 2 billion for general corporate purposes, Reuters reported, citing bankers close to the deal. Etisalat was not immediately available to Reuters to comment. On 20 February, Etisalat said it might restructure its operations to cut costs. On 9 February, Etisalat had reported a 24 percent fall in annual net profit to USD 1.58 billion, partly because of a write-down on its Indian affiliate Etisalat DB, which is set to lose its licence.