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Dubai bourse says Aabar’s stake in Arabtec stabilises

: Monday, June 16 - 2014 @ 11:09

Dubai Bourse said in a statement that the stake which Abu Dhabi state fund Aabar Investments holds in Dubai builder Arabtec has stabilised after falling sharply last week, Arabian Business has reported. Between June 8 and 11, Aabar cut the stake to 18.85 percent from 21.57 percent; its selling fuelled a 30 percent plunge in Arabtec’s stock price as investors worried that the commitment of a major shareholder in the firm was waning. Aabar has declined to comment on its strategy.

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Monday, June 16- 2014 @ 11:09 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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