Founded in 1976, Etisalat has about 11 million customers in the UAE and operations in at least 18 countries, according to its website.
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The second-biggest telecommunications provider in the Middle East soared the most in 10 years after the United Arab Emirates said it would lift a ban on foreign ownership of shares in the company.The UAE is lifting the restriction on condition that foreign ownership doesn't exceed 20 percent, the company said in a statement Monday.The phone operator's shares have climbed 39 percent this year, making them the third-best performer on Abu Dhabi's 64-member ADX General Index.Founded in 1976, Etisalat has about 11 million customers in the UAE and operations in at least 18 countries, according to its website.Shares in the company, which is almost 40 percent owned by the Emirates Investment Authority, jumped the most in four months.
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