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Dubai World 'to ask for debt freeze'

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Dubai World 'to ask for debt freeze'

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The state-linked and heavily indebted conglomerate Dubai World is reportedly about to officially ask its creditors for a temporary freeze on repaying 16 billion euros worth of debt.

That would give it time to complete a restructuring.

The report in Arabic-language daily Al Ittihad – quoted sources in creditor banks as saying that restructuring could take as long as six months.