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Du eyes $273 million rights issue

Dubai-based telecoms operator, du, announced a fully subscribed rights issue aimed at funding additional high-tech services, such as broadband and 3G for mobile data.

April 19, 2010 12:02 by

Du, Dubai-based telecoms provider, announced Monday plans for a rights issue worth more than $272 million, The Khaleej Times reported today.

The rights issue is expected to meet the company’s needs for capital over the next three to four years, as they pursue the development of high-tech services. But du has no plans to construct its own infrastructure core, the report indicated.

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