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23-01-21
UAE: Etisalat increases ownership limit of foreign nationals to 49 percent
(MENAFN)Emirati telecom operators Etisalat and du have increased the ownership limit of foreign nationals to 49 percent.
The declaration followed two immediate regulatory filings with the Abu Dhabi Securities Exchange and Dubai Financial Market, where the companies’ shares are traded.
Its board of directors had approved to boost the foreign ownership of the company’s shares from 20 percent to 49 percent, according to Etisalat.
A higher restrict on foreign ownership would need amending some provisions of the federal law relating to the Emirates Telecommunications Corporation, as well as the company’s articles of association, the company further said.
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