The UAE based Emirates Integrated Telecommunications - which trades as Du - has announced plans to raise AED1 billion (US$272 million) from its shareholders. The extra funding will be primarily used to expand the company's 3G mobile broadband network.
The company's government backed shareholders, Emirates Investment Authority, Mubadala Development Company and Emirates Communications and Technology have already backed the plans. They jointly control 80% of the company, with the remaining 20% listed on the stock exchange.
Earlier this month, the company announced a vendor-financed deal with Nokia Siemens Networks to expand its GSM network.
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