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Sovereign Wealth Funds Briefing - Categorized | Financials

Du to pay royalty charge for first time

Posted on 15 February 2011

From Thenational.ae: Du, the UAE’s second-largest telecommunications operator, will pay the Government royalty charges this year for the first time. The head of telecommunications investments for Emirates Investment Authority, the sovereign fund that is a major shareholder in both Etisalat and du, said last year that the royalty payments were not sustainable.
The company has been exempt since it launched mobile services in 2007, to help it to become profitable while competing with Etisalat. Du will now have to pay a fee of 15 per cent of its earnings from last year, it said in a statement yesterday to the Dubai Financial Market……………………………………….Full Article: Source


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