UAE Etisalat picks banks ahead of potential bond issue - statement

DUBAI Tue May 27, 2014 6:42am EDT

DUBAI May 27 (Reuters) - Etisalat, the largest listed company in the United Arab Emirates by market value, has mandated banks to organise meetings ahead of a potential bond issue, the telecom operator said on Tuesday.

Etisalat, which earlier this month bought a 53 percent stake in Maroc Telecom for 4.14 billion euros ($5.65 billion) from Paris-listed Vivendi, said the meetings will be held in the UAE, Asia and Europe from June 1.

The company did not identify the mandated banks, but a separate document from lead arrangers showed Etisalat chose Deutsche Bank, Goldman Sachs, HSBC and Royal Bank of Scotland to arrange the offering - as sources told Reuters on Monday.

The issue could be denominated in euros or dollars or both currencies, the document for arranging banks added. (Reporting by David French in Dubai and Abhinav Ramnarayan in London; Editing by Matt Smith)

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