The Telecommunication Regulatory Authority (TRA) of the United Arab Emirates has provided more details of the launch of the country’s second national operator, due to begin service in mid-2006. The new venture, called the Emirates Integrated Telecommunications Company, will be a public joint-stock company with a capitalisation of USD1.1 billion. It will be 50% owned by the state through two government bodies, with the remainder distributed equally between the Abu Dhabi Mubadala Development Company (25%) and The Emirates Company for Telecommunications and Technology (25%). The TRA added that the owners could reduce their holdings to allow for an IPO of 20% of the company in 2006.
The Emirates Integrated Telecommunications Company is expected to introduce a commercial mobile service in competition with former monopoly Etisalat in mid-2006, before expanding its service provision into the fixed line and broadband markets.