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National Telecom Company Agreement to Receive Loan

Posted on: Sunday, 4 September 2005, 15:00 CDT

Al-Yawm newspaper reported on the signing of an agreement to receive a $490 million loan between the Algerian National Telecom Company and the Citigroup Banking Corporation and additional international banking groups

. The purpose of this loan is to develop the cellular telephone services of the company operating the third cellphone network in the country. The paper noted that this company belongs to the Kuwait Cellular Telecom Company.

Source: Info-Prod Research (Middle East)

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