09 Jul 2013
(MENAFN) Dubai Holding’s shares in two telecom companies is likely to get the giant contractor a respectable sum of money that would total USD1 billion and that all in case of a potential sale of the Dubai holding stakes. Arabian business reported.
The money would be used to repay an accumulated debt of USD50 billion that obliged Dubai Holding along with other state-linked corporations, which were affected severely by the 2009 real-estate boom, to repay the debt which is due in 2016.
The two stakes represent 26% of the mobile phone retailer Axiom Telecom which is owned by Dubai Holding’s unit Emirates International Telecommunications LLC (EIT), and 35% of Tunisie Telecom.
J.P. Morgan who wrote a research about the aforementioned possible sale said: “Although we have always expected DUBAIH (Dubai Holding) to sell these non-core stakes, management in the past has been vague about timing.” He added: “Appointment of advisers increases the likelihood of the transaction getting completed, potentially in the next 6-12 months.”
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more