Smile Telecoms: Debt restructuring in the balance

In:

Telecoms and Communications

Region:

Middle East & Africa, Europe

Max Thompson

Managing Editor

Smile Telecoms is awaiting one lender’s vote in support of its ECA debt restructuring plan, alongside creditors approval for $51 million of new money from shareholders. However, if the lender holds out against the deal, the UK courts could force the African telecom company to accept the existing terms of the plan - or if it fails completely the company will go bust.

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