Du allows non-citizens to own up to 49% of its shares

The Board of Directors of the Emirates Integrated Telecommunications Company, its subsidiary, approved the trademark "Du", in a meeting held this evening, to allow non-UAE citizens, whether natural or legal persons, to own up to 49% of the company's capital.

The company revealed, in a disclosure to the Dubai Market, today, that the Board of Directors meeting also approved allowing UAE citizens, whether a natural or legal person, to own up to 100% of the company's capital, while the Board of Directors meeting approved preventing the acquisition of the company's shares by any local telecommunications company. Or international.

The company announced, through disclosure to the Dubai market, that taking into account the shareholders owning a ratio of more than 5% of the company's capital at the date of issuance of this decision, it is prohibited to directly or indirectly own any natural or legal person at a rate that exceeds 5% of the company's capital.

The company indicated in a disclosure statement that any previous decisions that contradict this decision will be canceled.

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