Hits prepares acquisitions and loan

Published on 12.01.2012

Hits Telecom Holding Company, the Kuwait-based telecommunications provider, expects to complete two acquisitions in the first half of 2012, CEO Par Eriksson has announced.
“During the first quarter, we will definitely announce an acquisition in a country in Africa, and then we may announce the second acquisition in another country in the following quarter,” Eriksson said in an interview.
Hits Telecom may also “close another loan in the beginning of next year” through a combination of local and Asian banks, Eriksson said. The company announced on December 5 that it had agreed to a 158.8 million-dinar (US$43m) loan from Swiss-based Global Emerging Ltd.
Hits Telecom owns company stakes in Saudi Arabia, Spain, Liberia, Equatorial Guinea, Tanzania and Democratic Republic of Congo.