Private equity firm Abraaj Group has bought from Dubai Holdings’ telecoms arm its 35 per cent stake in state-controlled Tunisie Telecom, a Tunisian minister said on Monday.
In 2006 Dubai Holding’s Emirates International Telecommunications (EIT) bought the stake for $2.25bn, according to its website.
“The UAE’s Abraaj became a new partner in Tunisie Telecom to succeed Dubai Holding which sold its 35 per cent stake,” the Tunisian Minister of Communications and Digital Economy, Anwar Maarouf, told parliament.
“The entry of the new partner contributes to the development of the company’s activity,” he said without disclosing the financial details of the deal.
Abraaj and EIT were not immediately available for comment.
The editorial staff of Qatar Today would like to give all of its readers from Gulf and Qatar and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Qatar Today with a short text.
Do you have information you want to reach our readers?
The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).