Middle East Economic Survey

VOL. XLVII

No 37

13-September-2004

TELECOMS

NCB And Samba Sign $2.77Bn Financial Guarantee For Etisalat Consortium

National Commercial Bank (NCB) and Samba Financial Group have signed a SR10.4bn ($2.77bn) Guarantee Facility Agreement with the Etisalat Consortium to cover 80% of the SR12.94bn ($3.45bn) license fee that it bid recently to win the kingdoms second GSM mobile license and third generation (3G) license (MEES, 16 August). The Saudi Communications and...