Abu Dhabi Group's investment in Pakistan

LAHORE (PR) - In these harsh economic times, the Abu Dhabi Group has yet again proved its commitment to the people of Pakistan as it has further augmented its $2.0 billion investment in the country. Sources have disclosed that new foreign direct investment into Pakistan from the Abu Dhabi Group comes through one of its latest publicly listed telecom ventures Wateen Telecom Limited. Over the past few weeks Abu Dhabi Group has injected support of over Rs2.1b into the company. For Pakistan, it implies an influx of US dollars into the country while for Wateen Telecom Limited it shows shareholders confidence in the company and its management while supporting the business plan. No more dilution of Wateens shares is expected as a result and will further strengthen Wateens financial capacity. This decision by the Group is likely to be welcomed warmly by the general public and various stock exchanges of Pakistan and help further boost their confidence and comfort in the Group and its conglomerates. Wateen Telecom is owned by the Abu Dhabi Group, one of the leading business conglomerates in the United Arab Emirates (UAE), is one of the largest foreign investor group in Pakistan and the parent company for Bank Alfalah and Wand Telecom.

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