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


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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