Etisalat decided to raise the percentage of foreign ownership to 49%

Etisalat Group today agreed to raise the foreign ownership rate of its shares to 49%, compared to 20% previously.

This came during the Etisalat Board of Directors meeting this evening in Abu Dhabi.

The group had agreed in 2015 to lift the restriction on owning its shares by foreigners and to allow foreigners to own their shares, whether they were individuals or institutions, of up to 20% of its shares.

The implementation of the Board of Directors decision issued today requires the amendment of the Federal Decree-Law issued in 2015 regarding foreign ownership, as well as the amendment of the company's articles of association, which requires the approval of the general assembly of the company and the competent authorities.

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