Abu Dhabi: Etisalat’s shareholders approved the Board’s recommendation to raise external funding in excess of the corporation’s capital as per the Articles of Association of the Corporation, the telecom operator announced on Wednesday.
The use of the new external funding (debt) is still subject to finalisation of remaining terms and conditions to acquire Vivendi’s stake of approximately 53 per cent in Itissalat Al Maghrib (Maroc Telecom), which is subject to the completion of the remaining acquisition requirements. Etisalat announced the decision after its extra-ordinary general assembly meeting that was held on Tuesday.
