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FINANCIAL NEWS
Etisalat predicts payments for UAE government to stay unchanged
11 Jan 2016
(MENAFN) Among the decline in hydrocarbon revenue due to falling oil prices over the past 18 months, threats to the company’s valuation involve any future decision by the government.
Through the past 12 months, Etisalat’s shares increased more than 62 percent, since it launched its ownership to foreign investors.
Moreover, the royalty paid to the UAE government was one of the reasons Etisalat singled out as causing an 8.6 percent fall in the firm’s incomes for Q3 of 2015.
“For the royalties we pay to the government there is already a regime that is renewed every two years and I think it will remain as it is for the time being,” said chief executive.
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