Telecom Egypt has secured a $500 million syndicated loan for capital and operating expenditure, reported Reuters.
The loan which is the latest among a number of debt facilities raised by Egyptian borrowers over the past few months, suggest improved business conditions in the country under a $12 billion three-year IMF loan programme.
The country’s largest internet provider is 80 per cent state-owned and the remaining shares are listed on the Egyptian and London stock markets.
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