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Du inks JV deal with Bahrain’s Batelco

Du inks JV deal with Bahrain’s Batelco
Each company will hold a 50% stake in the JV
DU
DU
0.00% 0.00 0.00
Batelco
BATELCO
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Dubai – Mubasher: Emirates Integrated Telecommunications Company (du), listed on the Dubai Financial Market (DFM), on Monday announced it has signed a joint venture (JV) agreement with Bahrain Telecommunication Company (Batelco).

Upon the agreement, the two companies will work jointly to provide their customers with more comprehensive and efficient services, according to a statement.

Each company will hold a 50% stake in the JV, du highlighted.

It is worth noting that du previously reported a 14.2% drop in its profits for the first quarter of 2019, recording AED 444.81 million, compared to AED 518.51 million in Q1-18.

Meanwhile, du’s revenues fell by 5.7% year-on-year to AED 3.14 billion in Q1-19 from AED 3.33 billion.