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Etisalat Given $500 Mln By Abu Dhabi For Maroc Telecom Deal

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Abu Dhabi gave Etisalat a $500 million grant towards its 4.14 billion euro ($5.64 billion) purchase of 53 percent of Maroc Telecom, the company’s prospectus for a planned bond issue shows.

The grant provides further evidence of Abu Dhabi’s support for its companies’ foreign expansion but could draw complaints from rivals about the Gulf emirate using its vast hydrocarbon wealth to subsidise state-owned businesses and distort competition.

Fellow Abu Dhabi-based company Etihad Airways benefited from a $3 billion interest-free loan from the emirate’s ruling family, the Australian Financial Review newspaper said last week, leading to complaints from rival airlines. Original post at reuters

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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