BUDAPEST - Westel 900 GSM, a joint venture of Hungarian Telecommunications Co. and US West Inc.'s US West International unit, has arranged a $50 million bridging-loan facility, Citibank Budapest said.
Citibank said it led a syndicate of five banks that set up the facility.
Westel 900 GSM is one of two companies Hungary selected as winners of a state tender to implement a 900-megahertz cellular phone network in the country.