Business Investment

EIA boosts du holding with $630 million stake

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Sunday 16, June 2019 BY Kuda Muzoriwa

The shares represented approximately 10.2 per cent of Emirates Integrated Telecommunications Company‘s (du) issued share capital.

The Emirates Investment Authority (EIA) has acquired a $630 million stake in du from Mamoura Diversified Global Holding and General Investments.

EIA, the UAE’s sovereign wealth fund held 39.9 per cent of du, while Mamoura owned 19.9 per cent.

In a bourse filing, Mamoura Diversified Global Holding and General Investments stated that they sold 463 million shares in du to Emirates Investment Authority.

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