UAE sovereign wealth fund buys US$630 million stake in Dubai telco du

463.3 million shares.
DU, UAE, Tech, Business, Money, Finance, Commerce, Dubai, United Arab Emirates

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du's stand at GITEX 2018 in Dubai.

The UAE's sovereign wealth fund has upped its stake in du, purchasing a stake valued at about $630 million (2.3 billion dirhams).

According to a statement, the Emirates Investment Authority bought 463.3 million shares from Mamoura Diversified Global Holding and General Investments.

The deal represents about 10.2% of du's issued share capital.

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