Tuesday, Jun 04, 2013
DUBAI (Zawya Dow Jones)--Emirates Integrated Telecommunications Co. (DU.DFM), better known as Du, has bought a 10% stake in a data center company owned by the Abu Dhabi government.
Du has bought the stake in Khazna Data Center for a maximum financial commitment of 57.5 million dirhams ($15.7 million), depending on funding requirements set out in a plan related to the construction of data centers, the Dubai-based telco said in a statement posted Tuesday on the Dubai bourse website.
Khazna Data Center is currently 100% owned by Mubadala, an investment vehicle owned by the Abu Dhabi government, and Du has the right to appoint one director to the board as part of the deal, the statement added. Mubadala also owns about 20% of Du, according to Zawya.com data.
Du shares last traded up 0.7% at AED5.85 on Tuesday.
Write to Rory Jones at rory.jones@dowjones.com
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(END) Dow Jones Newswires
04-06-13 0713GMT
