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PIC Poised to Take Stake in Fiber Company After Deutsche Loan

  • PIC set aside funds to cover Deutsche Loan, participate in IPO
  • Deutsche lent Liquid Telecom’s parent Econet $375 million
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Photographer: Jason Alden/Bloomberg

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The Public Investment Corp. is poised to take a stake in Liquid Telecom if Africa’s biggest fiber company goes ahead with a planned initial public offering, according to people familiar with the situation.

The PIC, which manages the pension funds of South African government workers, agreed to set aside funds to guarantee a $375 million loan to Liquid parent Econet Global Ltd. from Deutsche Bank AG, the three people said.