UAE telecom du raises foreign ownership limit to 49%

Non-UAE nationals can own up to 49 percent. (File/Shutterstock)

• It said it was expecting “extensive” foreign investment inquiries because of the company’s 2020 financial results

DUBAI: Du Emirates Integrated Telecommunications is raising its foreign ownership limit to 49 percent, the UAE news agency WAM has reported.

The company said UAE nationals – individuals or establishments – can own shares up to a maximum of 100 percent share capital of du, while non-UAE nationals can own up to 49 percent.

It said it was expecting “extensive” foreign investment inquiries because of the company’s 2020 financial results.