Du approves sale of 26% stake in Khazna Data Centre

SourceZawya
SectorEconomy
CountryUnited Arab Emirates

Emirates Integrated Telecommunications Company (Du) is divesting its shares in Khazna Data Centre, it has been confirmed.The telecom firm said on Tuesday that its board of directors approved the sale of its 26 percent indirect stake, including its interest in shareholder loans to Technology Holding Company , which currently holds 74 percent of Khazna.The approval was made during the board’s meeting on Tuesday.“The company’s board of directors has further approved the delegation to the company’s management to conclude the transaction,” the telecom firm said in a statement to the Dubai Financial Market (DFM).(Writing by Cleofe Maceda; editing by Seban Scaria)Cleofe.maceda@refinitiv.com Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, ...read more...