The Saudi Telecom Company (STC) is looking to borrow about $1.5 billion to finance its purchase of a 35 per cent stake (worth $2.6 billion) in Dubai-based Oger Telecom.

The Saudi Telecom Company (STC) is looking to borrow about $1.5 billion to finance its purchase of a 35 per cent stake (worth $2.6 billion) in Dubai-based Oger Telecom. STC is exploring various options, including a syndicated loan and a private club deal. The company, which is looking to borrow about 60 per cent of the purchase cost, has invited three bankers to submit financing proposals.