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CEO Message

In its eleven years of operation, Emirates International Telecommunications LLC (EIT) has demonstrated that its unique mix of value-creation strategies and processes have resulted in a stable and attractive portfolio of communications assets across the EMEASA region. The various transformation efforts deployed throughout its operating companies have yielded enhanced performance and operational excellence at each of them.

Since its founding in 2006, EIT has been continuously learning and evolving from the experience and knowledge gained through the active management of its portfolio companies. It continues to refine its core processes, in step with the changes adopted by Dubai Holding.

Although the telecom industry has shown resilience throughout the global economic crisis, the unfolding political changes in the Arab world, particularly in Tunisia in early 2011, have presented enormous challenges and uncertainties. We continue to strive to maintain value and keep the momentum of the transformation efforts launched at Tunisie Telecom since acquisition. In spite of the challenges, Tunisie Telecom delivered a strong performance. We remain confident and optimistic of Tunisie Telecom's future.

In 2015, EIT divested its stake in pan-European next generation optical fiber network Interoute. In 2016, EIT’s stake in GO plc (Malta) was sold to Tunisie Telecom and off loaded its stake in Forthnet.

In order to maximize value for GO’s shareholders with respect to lands owned by GO, an asset management company was spun off in 2015. Malta Properties Company (MPC) was launched and listed on the Maltese Stock Exchange, with EIT having 60% shareholding. Since then, MPC has been evaluating at least twenty acquisition opportunities in Malta and beyond.

With collective lessons learned from the past years, EIT will only gather strength and continue to evolve with the times. I have said before that the foundations of EIT based on its core values of meritocracy, leadership, teamwork and integrity will stand us in good stead. I still strongly stand by this statement.

The years ahead show great promise for Dubai, the industry we have invested in and the amazing people in EIT who make it all work.

Deepak Padmanabhan

Chief Executive Officer