Emirates Integrated Telecommunications Company (du) has agreed to sell 26 percent indirect stake in Khazna Data Center to the Technology Holding Company, the telco said in a statement published on the Dubai Financial Market's website.

"The company’s board has further approved the delegation to the management to conclude the transaction," reported state news agency Wam, citing the du statement.

The approval was made during the board’s meeting on Tuesday. Khazna was founded in 2012, and has quickly established itself as a trusted brand in the wholesale data center space.