Du hopes to raise $272m via rights offer

20 April 2010

Osman Sultan, CEO of Du, has said the company plans to raise Dhs1bn ($272m) selling shares to fund expansion, Bloomberg has reported. Most of the planned investment will go to Du's mobile network to allow it to offer faster service and better internet connections, he said. Investment in the fixed-line network will be in partnership with larger rival Etisalat, he added.

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