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Friendi plans IPO within two years
- United Arab Emirates: Wednesday, December 05 - 2012 at 04:02
Dubai-based Friendi Group is looking to launch an initial public offering in the next two years, The National has reported. Earlier this year, Friendi partnered with the UK's Virgin Media Group to expand its reach in the region. Virgin is now the biggest single shareholder with a "significant minority stake," said Mikkel Vinter, the chief executive of Friendi. "Hopefully with this new sign- up with Virgin, we think we are in an even better position in the market [and] our plans to IPO remain," said Vinter. "We are going through a process now where are rebranding some of the business. We obviously want to see some of that on the ground before we take the next steps."
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