25.05.2011 - Saudi Telecom's Indonesia unit secures $1.2bln financing
Axis, the Indonesian subsidiary of Saudi Telecom Company, said on Tuesday it has signed a $1.2bn financing deal with local and international financial institutions. The sharia compliant financing will help fund Axis' expansion and growth strategies for the next five years, the company said in a statement. The Indonesian telecom sector has witnessed sound growth over the past few years with Axis passing 11 million subscribers and serving more than 400 cities..............................................Full Article: Source
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