Emirates Integrated Telecommunications Company
The Emirates Integrated Telecommunications Company (EITC) is a telecom operator in the United Arab Emirates. Although Emirates Integrated Telecommunications Company is its legal name, it was commercially rebranded as du in February 2006.
History
Du’s official name is Emirates Integrated Telecommunications Company (EITC). It was commercially branded as du in February 2006. The company had 4.5 million subscribers as of the end of March 2011.
The company launched mobile telecommunication services in February 2007 across the UAE and it reported its 2008 full year results in February, revealing it had added 1.88 million mobile customers over the 12 months. Revenue of $1.08bn was 157% up on the previous year.
Before the launch of services in 2006, shareholders offered 20% of their shares in an IPO. Emirates Bank and Emirates Financial services managed the share sale.
Ownership
EITC is 39.50% owned by Emirates Investment Authority (EIA), 20.08% by Mubadala Development Company, 20% by Emirates Communications & Technology Company LLC (ETC) and 20.92% by public shareholders. It is listed on the Dubai Financial Market (DFM) and trades under the name du.
