Vincenzo Nesci, CEO, Global Telecom Holding announced that his company agreed with one of the leading banks in Algeria to raise a loan worth $1 billion for Optimo Telecom Algerie, subsidiary of Orascom Telecom Algerie.
The facility will be obtained after the actual execution selling 51% stake in Djezzy to Algerian National Investment Fund, the top official added.
According to the CEO, the loan will go for financing the capital expenditure of the company's communications arm in the Algerian market and to upgrade the networks.