UAE telecom competition - Gulf News
---QUOTE--
The UAE Telecommunications Regulatory Authority yesterday approved the establishment of a new telecommunications company, according to WAM.
The move effectively ends Etisalat's monopoly.
The authority's resolution to grant a licence to the new Dh4 billion telecom provider follows a federal government intention to set up a new company in which the General Pensions and Social Security Authority and other private sector shareholders hold a 40 per cent stake.
Remaining stakes will be earmarked for private sector shareholders including a public offering component.
News that the UAE will get a new telecommunications company was widely welcomed yesterday, with industry captains expecting the move to yield better services at more competitive rates.
---UNQUOTE---
---QUOTE--
The UAE Telecommunications Regulatory Authority yesterday approved the establishment of a new telecommunications company, according to WAM.
The move effectively ends Etisalat's monopoly.
The authority's resolution to grant a licence to the new Dh4 billion telecom provider follows a federal government intention to set up a new company in which the General Pensions and Social Security Authority and other private sector shareholders hold a 40 per cent stake.
Remaining stakes will be earmarked for private sector shareholders including a public offering component.
News that the UAE will get a new telecommunications company was widely welcomed yesterday, with industry captains expecting the move to yield better services at more competitive rates.
---UNQUOTE---
posted by John B. Chilton at 5/07/2005 01:57:00 PM
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