MTN to sign $3bn deal with Banks


Mobile giant  MTN is set to sign a $3 billion (N470b) loan with a consortium of banks. The telecom operator said in an invitation to the ceremony that the medium-term facility will be signed today. MTN officials declined to give details of which banks are involved or what the money is to be used for. MTN has been borrowing to upgrade its network in Nigeria, as competition hots up in its most lucrative African market.

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