EIA slams UAE telecoms royalty fees

08 June 2010

Royalties charged on the profits of UAE telecoms providers Etisalat and Du are not sustainable, the head of the Emirates Investment Authority (EIA) has told The National. The EIA controls a large amount of shares in both of the companies and its chief telecoms investment officer Kaj-Erik Relander has said similar royalty systems around the world have been prone to failure. About a third of Etisalat's annual net profit is claimed by the UAE government as a royalty charge.

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