{"id":109510,"date":"2025-11-17T00:00:00","date_gmt":"2025-11-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-considers-selling-down-ooreedoo-stake\/"},"modified":"2025-11-17T00:00:00","modified_gmt":"2025-11-17T00:00:00","slug":"adia-considers-selling-down-ooreedoo-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/11\/17\/adia-considers-selling-down-ooreedoo-stake\/","title":{"rendered":"Adia considers selling down Ooreedoo stake"},"content":{"rendered":"

Good morning, friends.<\/strong> It\u2019s a reasonably busy start to a new week as earnings season continues (albeit at a much calmer pace) and a handful of major M&A transactions move forward. <\/p>\n

THE BIG STORY here at home<\/strong> is Adnoc\u2019s planned EUR 14.7 bn acquisition of Covestro getting conditional approval from the European Commission, marking a big step forward in the process. <\/p>\n

ALSO IN THIS MORNING\u2019S NEWS WELL-<\/strong> Dubai Islamic Bank took its first sustainability-linked issuance to market, raising USD 1 bn from the notes, while the latest data from Savills shows a busy quarter for Abu Dhabi real estate. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- T<\/strong>he Ab<\/strong>u Dhabi Investment Authority (Adia) is reportedly mulling selling part of its stake<\/strong> in Qatari telecom operator <\/strong>Ooredoo<\/a><\/strong>, sources familiar with the matter told Bloomberg<\/a>. The fund is reportedly weighing a transaction that could raise USD 500-600 mn from a partial sell-down of its 10% holding, currently valued at about USD 1.3 bn, the source said. <\/p>\n

More on Ooredoo:<\/strong> The telco\u2019s shares are up 24% YTD and the company brought in normalized net income of USD 843 mn during 9M 2025 \u2014 up 6% y-o-y and leading it to raise its dividend target. Its largest shareholder is the Qatar Investment Authority, which holds 53%.<\/p>\n

Adia\u2019s been divesting across its international portfolio\u2026:<\/strong> The fund sold<\/a> an eight-property US student housing portfolio with Landmark Properties for USD 1 bn, offloaded<\/a> its 70% stake in Singapore\u2019s PLQ Mall, divested<\/a> its stake in French car-leasing firm Ayvens, and trimmed<\/a> its stake in Swiss skincare firm Galderma. <\/p>\n

\u2026 and pivoting towards Indian IPOs + hedge funds:<\/strong> Adia\u2019s expansion in India this year includes backing automotive component maker Tenneco Clean Air India<\/a>, solar manufacturer Emmvee Photovoltaic Power<\/a>, digital stockbroker Groww<\/a>, Lenskart<\/a>, LG\u2019s India unit<\/a>, EV maker Ather Energy<\/a>, and Anthem Bioscience\u2019s IPO<\/a>. It has also poured USD 40 bn<\/a> into dozens of hedge funds this year by increasing its use of separately managed accounts.<\/p>\n

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<\/a> #2- <\/strong>Airbus<\/strong> vs Boeing showdown for flydubai jet order:<\/strong> Separate reports from Bloomberg<\/a> and Reuters<\/a> suggested that Airbus and Boeing are both in the lead to land the majority of an order for as many as 300 jets from flydubai. Bloomberg had first reported that the budget airline is slated to tap Boeing for the order, with Reuters reporting hours later that Airbus \u201clooks set to beat Boeing,\u201d with insider sources. <\/p>\n

Flydubai<\/strong> is expected to announce the order, consisting of 200 narrow-body planes with <\/strong>an option for 100 more, at this week\u2019s <\/strong>Dubai Airshow<\/a><\/strong>.<\/strong> At present, the airline only operates Boeing aircraft, but delays in 737 deliveries have prompted it to explore other options, sources told the news outlet.<\/p>\n

REMEMBER-<\/strong> The US Federal Aviation Administration authorized Boeing to ramp up 737 Max production to 42 jets per month starting<\/a> November. The model has been under scrutiny<\/a> due to safety concerns since Alaska Air technicians found loose hardware<\/a> in the door plug area on several Boeing 737 Max 9 planes.<\/p>\n

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<\/a> <\/strong>DP World in talks to b<\/strong>uild dry port in Egypt:<\/strong> UAE port operator DP World is in negotiations with Egypt\u2019s Transport Ministry to secure development and operating rights for the Sadat dry port, Al Borsa<\/a> quotes Egypt\u2019s General Authority for Land and Dry Ports head Sayed Metwally as saying. The ministry is currently reviewing DP World\u2019s feasibility studies, he said, without disclosing the port\u2019s cost. Unconfirmed reports<\/a> had previously put the expected investment cost at USD 160 mn. <\/p>\n

DP World is also eyeing the Shaq El Tebaan dry port in Cairo<\/strong>, trying to secure the contract to develop and operate the 125-feddan, USD 100 mn port, Metwally said. Earlier this year, the Transport Ministry scrapped<\/a> the port\u2019s tender after none of the three bidders met technical requirements. At the time it was reported the authority will instead relaunch the project through a closed-envelope auction, with technical bids due next January and financial offers the following month.<\/p>\n

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Emirati<\/strong> real estate developer and contractor Arkan is stepping into the Egyptian <\/strong>market<\/strong> with plans to invest more than EGP 10 bn through a new vehicle \u2014 called SLCITI \u2014 in the first phase of its expansion, according to a press release<\/a>. SLCITI will focus on studying the local market using big data and AI tools to track demand, assess potential investments, and support Arkan\u2019s plans to develop a diversified portfolio.<\/p>\n

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<\/a> <\/strong>Abu Dhabi creates new vehicle category for modular smart units: <\/strong>Abu Dhabi has become the first city to formally classify modular, reconfigurable vehicles as a distinct road-vehicle category, the Integrated Transport Center said, according to Abu Dhabi Media Office<\/a>. A pilot will launch on Yas Island with Emirates Driving Company, Liftango, and Paradigma Innovation Hub to assess how the vehicles could fit into future autonomous and smart-mobility systems.<\/p>\n

SOUND SMART- <\/strong>Developed by Next Modular Vehicles, the vehicles can connect or detach units based on demand, with studies and trials indicating potential gains in traffic efficiency and emissions.<\/p>\n

DATA POINTS- <\/p>\n

<\/a> DIFC named among rising global business districts: <\/strong>Dubai International Financial Center (DIFC) ranked 21st out of 30 business districts in the 2025 EY-ULI Global Business Districts Attractiveness Report (pdf)<\/a>, which benchmarked hubs across 19 countries using 2.4k data points. The report highlights DIFC as one of the fastest-advancing districts, citing its second-place global ranking for macroeconomic conditions and grouping it with emerging regional contenders like Riyadh\u2019s King Abdullah Financial District.<\/p>\n

PSA-<\/p>\n

Abu <\/strong>Dhabi\u2019s <\/strong>Integrated Transport Center<\/a><\/strong> launched a new electric ART bus route<\/strong>, AR2 \u2014 a nearly 27-km route connecting key cultural landmarks on Saadiyat Island, including Louvre Abu Dhabi, teamLab Phenomena, and Saadiyat Walk, Gulf<\/a>News<\/a> reports. The service kicks off today and will operate daily between 8am-10pm at 30-minute intervals.<\/p>\n

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HAPPENING TODAY- <\/p>\n

A UAE delegation will visit<\/strong> Singapore and India starting today until Friday, 21 November<\/strong> to boost bilateral trade and explore new sustainable development investments, Abu Dhabi Media Office<\/a> reports. The delegation will meet with policymakers, investors, and business leaders in both countries to strengthen partnerships across sectors like AI, agritech, healthcare and life sciences, renewable energy, advanced technology, financial services, manufacturing, and logistics. <\/p>\n

South<\/strong> Korea\u2019s President Lee Jae Myung begins his three-day state visit to the UAE today<\/strong>, holding talks with President Mohamed bin Zayed Al Nahyan to strengthen cooperation in investment, defense, energy, advanced technologies, and healthcare, Asharq Business<\/a> reports. The visit builds on existing relationships spanning politics, economy, nuclear cooperation, climate change, cybersecurity, food security, defense, healthcare, culture, government administration, and space.<\/p>\n

The <\/strong>MENA Leaders\u2019 Summit on Financial Inclusion<\/a><\/strong> is happening today and tomorrow <\/strong>at The St. Regis Abu Dhabi Corniche, according to a press release (pdf)<\/a>. The two-day summit will convene ministers, central bank governors, fintech CEOs, and international organizations such as the OECD to discuss innovation and financial inclusion across the region. <\/p>\n

The Central Bank of the UAE will also launch its national strategy for financial inclusion<\/strong> during the event, according to the release. Expect lots of talk around digital financial services, women\u2019s economic empowerment, financial literacy, consumer protection, and policies to promote a sustainable financial ecosystem.<\/p>\n

HAPPENING THIS WEEK- <\/p>\n

Canadian Prime Minister Mark Carney will be in Abu Dhabi from tomorrow for a <\/strong>working visit<\/strong> focusing on attracting new investments and trade partnerships, and expanding the trade and economic partnership in areas like energy, agriculture, infrastructure, and AI, according to a statement<\/a>. The PM will meet with business execs to attract investments to build out Canada\u2019s export infrastructure and boost access for Canadian exporters. <\/p>\n

The <\/strong>Sharjah International Travel and Tourism Forum<\/a><\/strong> takes place on Wednesday<\/strong> at Al Jawaher Reception and Convention Center. The forum will gather senior government officials, international experts, and tourism, travel, and tech industry players to explore future trends in the tourism sector. <\/p>\n

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<\/a> <\/p>\n

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THE BIG STORY ABROAD- <\/p>\n

The notorious Epstein files are dominating what\u2019s otherwise a calm day in the <\/strong>international press<\/strong>. The divide is intensifying over whether to release the files related to the trafficking investigation into disgraced financier Jeffrey Epstein, with calls for full disclosure reportedly gaining more and more ground in the House despite resistance from President Trump and GOP leaders.<\/p>\n

The renewed split comes after a House committee released some 20k new pages from <\/strong>the files last week<\/strong>, containing mentions and correspondence with several prominent figures including Trump. The President retaliated by directing the Justice Department to open an investigation into Epstein\u2019s ties with Democrats, a move that some say fanned the flames even further. (Washington Post<\/a> | Associated Press<\/a> | Semafor<\/a>)<\/p>\n

MEANWHILE- Bitcoin is reminding everyone just how volatile cryptocurrencies are<\/strong>, erasing more than 30% in YTD gains only a month after reaching an all-time high. The top cryptocurrency fell below the USD 94k mark yesterday, before paring back losses to trade at USD 94.9k. (Bloomberg<\/a> | Reuters<\/a>)<\/p>\n

ALSO WORTH READING THIS MORNING-<\/strong><\/p>\n