The UAE authorities has lifted restrictions which had blocked overseas buyers from shopping for a stake within the nation’s largest telco, Etisalat. There’s nonetheless a 20 % restrict on how a lot of the corporate could be owned by foreigners.
Presently, Etisalat is 60 p.c owned by the federal government, with a forty % stake listed, however restricted to UAE nationals.
“The federal authorities determined to carry the restriction of Etisalat inventory possession by native establishments, overseas establishments and expatriate people offered that such possession doesn’t exceed 20 p.c,” Etisalat stated in an announcement to Abu Dhabi Securities Alternate.
Etisalat added that the Emirates Funding Authority (EIA) doesn’t intend to cut back its 60 p.c stake for the time being.