Etisalat seeks to clarify PTCL ‘issues’

3 Oct 2005

Emirates Telecommunications Corp (Etisalat) has confirmed that it is in heavy negotiation with Pakistan Telecommunications (PTCL) to resolve a number of issues that have arisen since it agreed to buy a 26% stake in the company in June. Queries reportedly include a deferred payment structure, permission for a dual listing on the UAE bourse and various tax exemptions. Pakistan’s Privatisation Commission has agreed to extend the sale of the stake to 28 October 2005.