PTCL, Etisalat deal enters crucial week

19 Dec 2005

Officials from UAE-based telco Etisalat are due in Islamabad this week to resolve the final contentious issues standing in the way of a USD2.598 billion deal for a stake in Pakistan incumbent PTCL. The Minister for Privatisation and Investment Dr Abdul Hafeez Sheikh will lead the talks to resolve problems which have now delayed the country’s largest ever telecoms sale for over three months. The two sides have held three rounds of talks to discuss various issues raised by Etisalat concerning its bid for a 26% stake in PTCL, with high ranking officials suggesting that a formal endorsement of the deal could follow the talks this week.

Pakistan, United Arab Emirates, Etisalat UAE, Pakistan Telecommunication Company Limited (PTCL)