Etisalat surge 2.60% after releasing third quarter results

19 October 2010

The Abu Dhabi market's ADX General Index gained 1.07% to close at 2,807.77. Shares of former UAE telecom monopolist Etisalat jumped 2.60%, ending at Dhs11.90. Etisalat published interim results for the third quarter 2010, saying its profit for the months from June to September declined 18% to Dhs5,606m on a year-on-year-basis. Earnings per share decreased Dhs0.16 to Dhs0.71. The quarterly report also revealed that no final agreement has been reached (as yet) to buy 46% in Kuwait's Zain Telecom for an amount of KD1.70 per share.

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