Etisalat to lose monopoly as regulator licenses new telecom provider

9 May 2005

The United Arab Emirates industry watchdog, the Telecommunications Regulatory Authority (TRA), has issued a licence to a new operator to compete with Emirates Telecommunications Company (Etisalat’s) in the country’s fixed line sector. The TRA says the proposed new AED4 billion (USD1.09 billion) operator will be 40% owned by the UAE state pension and social security fund and other investors, with the remainder being sold through an initial public offering. Over the next few months, the TRA plans to announce further details concerning the newcomer and its timetable for commercial launch.

United Arab Emirates, Etisalat UAE