Vodafone Egypt signs LE4 billion loan deal

The seven banks are Banque Misr, Alexandria Bank, CIB (Egypt), HSBC, QNB, Barclay's and Emirates NBD Egypt, a source from Banque Misr told Ahram Online.

Vodafone started negotiations over the loan in October.

Reuters reported that Hatem Dowidar, Vodafone CEO, said during a press conference on Monday that the "credit facility will help modernise Vodafone's network and that part of it may be used for any new license that Vodafone might consider."