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Wireless

Global Telecom seeks USD 1 bln loan in Algeria

Thursday 28 August 2014 | 12:11 CET | News
Global Telecom (GTH) has agreed with one of the leading banks in Algeria to obtain a loan worth USD 1 billion for Optimum Telecom Algerie, a subsidiary of Orascom Telecom Algerie, Arab Finance reported citing Arabic newspaper, AlMal. GTH CEO Vincenzo Nesci said the loan will be received after the execution of the sale of 51 percent of Djezzy to the Algerian National Investment Fund. The loan will be used to finance the capital expenditure of the company's communications arm in the Algerian market, Nesci told AlMal on the sidelines of the company's extraordinary general meeting. Optimum

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Categories: Mobile & Wireless
Companies: Djezzy / Orascom Telecom
Countries: Algeria
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