The United Arab Emirates may soon allow foreign investors to buy shares in the country’s leading telecoms operator, Emirates Telecommunications Corporation (Etisalat). The National cites Etisalat’s chief executive, Ahmad Abdulkarim Julfar, as saying that that the operator has provided recommendations to the government and the Emirates Investment Council on amending the law to lift the ban on foreign ownership of the company’s shares, but he did not say how many shares overseas investors would be allowed to own.
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OVETEL Etisalat may allow foreign share ownership, report says
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