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Thu 23 Jul 2015 04:31 PM

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Dubai Holding unit set to pull out of Malta telco

Emirates International Telecommunications Malta currently holds 60% stake in Malta's biggest telecoms firm

Dubai Holding unit set to pull out of Malta telco

Emirates International Telecommunications Malta, a subsidiary of Dubai Holding, 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 percent stake. It did not say how it intends to dispose of its investment.

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