ANNOUNCEMENT 15 Sep 2015
The Federal Government of the United Arab Emirates announced that from 15 September 2015, non-UAE nationals i.e. foreigners will for the first time be allowed to engage in exchanging shares of the largest UAE Telecom Company 'Etisalat'.
NUMBER OF INTERVENTIONS
UNCTAD (2015) The government lifts Etisalat foreign ownership restriction. http://investmentpolicyhub.unctad.org/IPM/MeasureDetails?id=2793&hubc=null&rgn=&grp=&c=71%2C167%2C168&t=&s=&df=&dt=&pg=1&map=true&isSearch=true
The Federal Government of the United Arab Emirates announced that from 15 September 2015, non-UAE nationals will for the first time be enabled to purchase shares of the largest national Telecom Company 'Etisalat'. The maximum amount of 'Etisalat' shares that foreign nationals will be able to own amounts to 20%. Nevertheless, it is relevant denoting that regardless of the lift of this foreign ownership restriction, non UAE nationals that own shares of 'Etisalat', will not be able to have any voting rights in the company. Furthermore, the government also stated that as a result of this foreign ownership barrier ease, is not planning to reduce its shareholding portion in 'Etisalat' i.e. a shareholding portion amounting to 60 per cent.