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Du inks vendor financing deal with NSN

1 Apr 2010

UAE-based telecoms operator Emirates Integrated Telecommunications Company (Du) has signed a EUR200 million (USD270 million) financing deal with Finnish telecoms equipment vendor Nokia Siemens Networks (NSN), AME Info reports. The agreement – which is backed by the Finnish Export Credit Agency, Finnvera – will see EUR200 million of vendor financing provided to Du through Nordea Bank for the purchase of NSN equipment. Under the deal, NSN will provide its end-to-end portfolio of equipment to enhance and expand Du’s network infrastructure with new base transceiver stations (BTSs) and associated technologies. ‘There is currently a high demand across the UAE for better coverage and capacity and we are very pleased to be able to meet this demand through the supplier agreement with NSN,’ commented Osman Sultan, CEO of Du, adding, ‘The new equipment will enable the continued rollout of our 2G network, greatly benefitting Du’s customer base, while expanding our coverage and capacity.’ According to TeleGeography’s GlobalComms Database, Du is the country’s second largest mobile operator, with a cellular subscriber base of 3.48 million at 31 December 2009, behind sole rival in the market, Etisalat, which reported 7.74 million wireless users at the same date.

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