Millennium Private Equity invests in FRiENDi mobile

Notes and media contacts

About FRiENDi mobile:

FRiENDi mobile is an innovative telecom company rolling out mobile services across the SAMEA region as a Mobile Virtual Network Operator (MVNO), which is a proven business model which brings significant benefits to end-users, telecom operator partners and the general societies of the countries where FRiENDi mobile operates. FRiENDi mobile's management team brings together senior level cross-functional experience from successful regional and global mobile operators and MVNOs, and the company is backed by financially strong, experienced and well respected shareholders based in the SAMEA region and abroad. FRiENDi mobile is headquartered in Dubai Internet City in the United Arab Emirates, and has established a number of local operating companies and Joint Ventures across the SAMEA region with more to come in the near future.

About Millennium Private Equity:

Millennium Private Equity, a Dubai-based private equity firm backed by prominent regional financial investors, is the wholly-owned subsidiary of Millennium Finance Corporation and is developing a family of funds that will be among the largest private equity initiatives in the Greater Middle East, Africa, and Asia region. In addition to its Global Energy Fund and Telecoms, Media & Technology Fund which underwent respective first closings earlier this year and each targeting $1bn in equity, other funds will include a Clean Technology Fund, a Mining Fund, an Africa Fund, a Real Estate Fund, and a Health & Education Fund. In early 2008, MPE's first transaction was a $100m investment alongside global players such as Temasek and KKR into a $1.25bn private placement in the India-based telecom tower company called Infratel, a subsidiary of Bharti Airtel, the leading Indian mobile operator, via a fund solely seeded by the Dubai Government's investment arm, the Investment Corporation of Dubai (ICD).

For further information, kindly contact:

Rana Malek
PR Coordinator
Spot On Public Relations
T: 971 4 3491686 Ext. 103
F: 971 4 3493245