The United Arab Emirates will cut royalty charges or taxes for telecoms firm Etisalat (ETEL.AD), a top regulatory official said on Monday, that would provide an instant boost to sagging profits at the former monopoly.
No timescale was offered for the reduction by the telecoms regulator but analysts expect some cut on the royalty rate paid on 2011 profits.
"At one time, we will have to reduce Etisalat," said Majed Almesmar, deputy director general of the Telecommunications Regulatory Authority. "When? That depends on the market share for Etisalat and du."
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