du's board approves to sell stake in Khazna Data Centre

CountryUnited Arab Emirates

09 September 2020 09:55 AM Dubai – Mubasher: The board of Emirates Integrated Telecommunications Company (du) has agreed on selling its 26% indirect stake, including its interest in shareholder loans, in Khazna Data Centre Limited to Technology Holding Company. Technology Holding Company is the current 74% shareholder in Khazna, the UAE-based commercial wholesale data centre provider, according to the company's recent disclosure to the Dubai Financial Market (DFM). du's board has authorised the company's management to conclude the transaction. It is noteworthy to mention that in the first half (H1) of 2020, the net profits of du retreated to AED 570.411 million, compared to AED 913.278 million in the year-ago period. ...read more...