Etisalat in talks over $8 billion loan for Maroc Telecom bid

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By Michelle Meineke and Tessa Walsh | February 16, 2013 5:35 AM EST

Abu Dhabi telecom Etisalat is talking to banks about a syndicated loan of up to $8 billion to finance a bid for Vivendi's 53 percent stake in Maroc Telecom , banking sources said on Friday.

An $8 billion 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.

Etisalat was not immediately available for comment.

(Reporting by Michelle Meineke and Tessa Walsh. Editing by Jane Merriman)

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