UAE acquires on telecommunications sector in Aden

HADRAMOUT, July. 11 (YPA) – The UAE seeks to acquire on the telecommunications sector in the coalition-controlled areas, south of Yemen.

Sources familiar with matter said that the son of the head of Saudi-formed Presidential Leadership Council, Rashad Al-Alimi, had ordered the signing of a deal with Emirati NX Digital Technology Company, which would acquire 70 percent of the state-run Aden Net Company.

The sources indicated that Al-Alimi’s son assigned the deputy of the Ministry of Communications, Ragheed Al-Saeed, to sign the agreement, which took place in the UAE capital, Abu Dhabi.

According to the sources, “the deal includes exempting the UAE company from taxes and customs for about the next 5 years.”

The agreement would grant the UAE the right to acquire the telecommunications sector in the areas of southern Yemen.. The timing of passing the new agreement indicates Al-Alimi’s efforts to pull the rug from the UAE-backed Southern Transitional Council (STC).

AA