Dubai Holding, the conglomerate owned by the ruler of Dubai, sold a 14 percent stake in Axiom Telecom as part of Qatar Mannai Corp's stake buy in the Dubai-based mobile phone retailer, it said on Thursday.
Axiom sold a 35 percent stake to Mannai Corp last week after aborting an initial public offering in 2010, when it planned to list on the Nasdaq Dubai exchange by selling up to one-third of its shares.
Dubai Holding's unit, Emirates International Telecommunications LLC (EIT), will retain a 26 percent stake in Axiom after the sale, it said, but did not provide a value for the deal. It said the return on the sale was "attractive".
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