Emirati operators Etisalat and Du have increased their cap on foreign share ownership from 20% to 49%.
As reported by Gulf News, the operators – which are both majority owned by the United Arab Emirates’ government – have raised the limit in a bid to draw both passive and active investment from overseas.
Additionally, TeleGeography notes that the move will enable both operators to pursue strategic partnerships with foreign firms as they prepare themselves for the booming 5G market in the UAE.
Despite having extensive international operations across Africa, the Middle East and Asia, international shareholders account for only around 5% of Etisalat’s total, with the majority held by Gulf nationals. For Du, the figure is even lower at under 1%.
