Saudi Telecom Co. (STC), is considering raising its stake in subsidiary, Oger Telecom, to help its debt position, Reuters reported citing sources familiar with the matter.
Dubai-based Oger Telecom, the main shareholder in Turkish fixed-line operator Turk Telekom, is negotiating with creditors ahead of its next payment deadline in March, after missing a $300 million payment on a $4.75 billion loan in September.
Turk Telekom said this month its financial agreements did not include cross default provisions in relation to shareholders missing debt repayments.
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