Saudi Mobily in $650 mln financing deal with Ericsson, NSN
DUBAI, June 30
DUBAI, June 30 (Reuters) - Saudi Arabia's Mobily has signed memorandum of understandings with Nokia Siemens Networks and Ericsson to fund the purchase of $650 million of equipment from the firms, the telecom operator said on Sunday.
Mobily, also known as Etihad Etisalat, said it would work with the Finland and Sweden export credit agencies to finalise the 10-year sharia-compliant facilities.
The operator, an affiliate of the United Arab Emirates' Etisalat, said the deal would be the first of its kind in Saudi Arabia's telecom sector and would boost the company's free cash flow.
Mobily has mandated Credit Agricole and Deutsche Bank to structure and arrange the facility. (Reporting by Matt Smith; editing by Dinesh Nair)
- Ukraine accuses Russia of "undisguised aggression" as rebels advance |
- U.S. forces carry out operation against al-Shabaab in Somalia
- Disruptive Hong Kong protests loom after China rules out democracy |
- Syrian army, rebels fight on Golan where peacekeepers held |
- NATO to create new 'spearhead' force to respond to crises