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Dubai Holdings unit says to pull out of Malta telecoms company

Dubai Holdings unit says to pull out of Malta telecoms company

Emirates International Telecommunications Malta, which holds a 60 per cent share in Go, did not say how it plans to divest its stake

Emirates International Telecommunications Malta, a subsidiary of Dubai Holdings, said Thursday that it intends to pull out of Malta telecoms company Go in the short term.

It gave no explanation for its decision, which it announced in a statement to the Malta Stock Exchange.

Formerly state-owned Go is Malta’s biggest telecoms company.

It recorded a profit after tax of 20.5 million euros in 2014 despite losses in its land-line business.

Most of its recent growth has been in television and Internet provider services.

Emirates holds a 60 per cent stake. It did not say how it intends to dispose of its investment.

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