Islamabad looks to salvage Etisalat deal; MNP to be introduced by April 2006

30 Nov 2005

The Pakistan government has said it is keen for the sale of a 26% stake in Pakistan Telecommunications Company Ltd (PTCL) to UAE-based Etisalat to go ahead, and is trying to salvage the deal by softening some of the payment terms, according to officials. Etisalat won the stake in July this year but the sale was called off in October after it missed a payment deadline. Talks on the acquisition were resumed earlier this month, when Etisalat asked if it could instead pay the price offered by the second highest bidder – China Mobile.

In a separate story, the government has announced plans to implement mobile phone portability by April 2006.