Jul 29 2012
|more articles from|
UAE Etisalat to Soon Allow Foreigners to Own Its Shrs - Report
Sunday, Jul 29, 2012
DUBAI (Zawya Dow Jones)-- Emirates Telecommunications Corp ., or Etisalat , will soon allow foreigners to own its shares, Al-Khaleej newspaper reports Sunday, citing the telecom operator's chief executive.
" Etisalat to allow foreigners to own its shares soon," Ahmad Abdulkarim Julfar, Etisalat 's CEO, told the newspaper. Emirates Investment Council is currently working on amending the law to allow foreign ownership of its shares, he added.
Julfar also told the paper that Etisalat has ruled out making any acquisitions over the next two years, or until 2014, especially with the political and economic instability in the region that requires more time to access real opportunities in the telecoms sector.
Etisalat was not immediately available to comment.
-By Shereen El Gazzar, Dow Jones Newswires; +971 444 61684; Shereen.firstname.lastname@example.org; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
© Copyright Zawya. All Rights Reserved.