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‘UAE NATIONALS CAN HOLD 100%’

Du announces foreign ownership limit increase to 49%

DUBAI, February 24, 2021

The Emirates Integrated Telecommunications Company (du) has announced that it has raised its foreign ownership limit to 49 percent.

In a filing to Dubai Financial Market, the company said effective February 23, 2021, individual UAE nationals and wholly UAE establishments, companies and authorities can own shares in EITC up to a maximum of 100 of the share capital of EITC, while non-UAE nationals (whether individuals, establishments, or companies) can own shares in EITC up to a maximum of 49 percent of the share capital of EITC, reported state-run news agency WAM.

It added that foreign investment enquiries are also likely to be "extensive in due course" in light of EITC's 2O2O financial results.



 




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