Etisalat/PTCL revive acquisition talks

17 Nov 2005

Etisalat of the UAE and Pakistan Telecommunications Company Ltd (PTCL) have agreed to continue talks over Etisalat’s acquisition of a 26% stake in PTCL. The sale was called off after Etisalat failed to meet the 28 October deadline for payment of the outstanding USD2.34 billion, but the two parties now hope to salvage the deal. A series of meetings will now be held to discuss outstanding issues.