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UAE's Etisalat to allow foreigners to own shares

UAE's Etisalat to allow foreigners to own shares

UAE's Etisalat announced, yesterday, lifting restriction on the acquisition of Telecom shares by domestic and foreign institutions and individuals Emiratis. The news agency said the UAE's Etisalat informed, in a statement, the Abu Dhabi Securities Market this decision by the UAE Federal Government. And requires the decision to lift restriction on the acquisition of shares in Telecom not to increase the proportion of foreign ownership individuals and institutions for 20% It is said that the UAE government owns through Emirates Investment 60% of Telecom's shares. Emiratis and has 40% of the shares, note that there is no device has no intention to reduce its share of the stock at the moment.

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