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FINANCIAL NEWS
No 10-day grace period for Du subscribers
12 Jun 2011
(MENAFN) The UAE-based Du texted all subscribers stating that it would no longer offer a grace period of ten days for its bills, and that subscribers who fail to pay their payment on time would have a service suspension immediately, reported Emirates 24/7.
The operator noted that since it is facilitating a number of easy-access payment channels, the grace period would no longer be needed.
However, the new decision could be linked to the company’s USD8.7 billion of debt. The company had recently reported signing a financing deal for USD220 million to be used in repaying the company’s debt.
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