Five operators looking at PTCL stake

14 Jan 2005

Five telcos have registered their interest in buying a 26% stake in Pakistan Telecommunications (PTCL), according to the country’s Ministry of Privatisation. Singapore’s SingTel, Emirates Telecommunications (Etisalat), Mobile Telecomms (Kuwait), MTN International (South Africa) and Saudi Oger have all come forward as potential buyers. The government announced the sale, expected to raise around USD750 million, in November 2004 following a lengthy string of delays. The date for companies to declare their interest in the privatisation has been set at 28 January. As it stands PTCL is 88% owned by the state with the remainder held by the public.

Pakistan, Pakistan Telecommunication Company Limited (PTCL)