Featured
UAE Wealth Fund Boosts Telecom Operator Du Holding With $630 Million Stake

The United Arab Emirates’ sovereign wealth fund boosted its stake in Dubai-based telecom operator Du, snapping up a stake valued at about $630 million.
The Emirates Investment Authority bought 463.3 million shares in the phone company from Mamoura Diversified Global Holding and General Investments in a special deal, according to a statement. It represented about 10.2% of Du’s issued share capital. The statement didn’t provide a value for the deal.
“This monetization is part of our strategy of continuously evaluating our portfolio, and realizing a return on an investment at the opportune time,” said Mounir Barakat, executive director of information and communications technology at Mubadala Investment Co. The fund continues to be a “significant” equity investor in Du, he said.
Mamoura was previously known as Mubadala Development Co., the wealth fund managed by Abu Dhabi’s government. The Emirates Investment Authority held 39.9% of Du, while Mamoura owned 19.92%. The telecom operator competes with Etisalat in the UAE.
Du shares traded at 5 dirhams in Dubai on Sunday at 1:19 p.m., trimming a 1.2% gain.
Read more
https://www.businessliveme.com/cisco-mobile-networks-to-support-1-billion-mobile-users-in-mea/
-
News2 months ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
OER Magazines1 month ago
OER, April 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, April 25
-
Renewables3 weeks ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Banking & Finance2 months ago
Bank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks
-
Banking & Finance2 months ago
Sohar International Bank SAOG Announces Intention to Merge with Ahli Bank SAOG
-
Economy2 months ago
Can Oman Emerge as a Strategic Trade Hub Amid U.S. Tariff Changes?
-
News2 months ago
Oman Signs Historic Agreement to Establish World’s First Liquid Hydrogen Corridor to Europe
You must be logged in to post a comment Login