Abu Dhabi telco Etisalat is talking to banks about a syndicated loan of up to $8bn to finance a bid for Vivendi's 53 percent stake in Maroc Telecom, banking sources have said.
An $8bn acquisition loan would be the largest Gulf merger and acquisition loan in six years.
Etisalat has asked banks to bid for the roles of M&A and financing advisor, one banker said.
Vivendi is under pressure from shareholders to bolster its flagging share price and from rating agencies to reduce its debt, which stands at 15.7 billion euros.
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