Etisalat may double PTCL stake

10 Sep 2007

Etisalat has revealed it is considering doubling its stake in Pakistan Telecommunications (PTCL) to 51%. ‘We are evaluating that option and once we’ve arrived at the decision that this is positive, we will talk to the (Pakistani) government,’ Chairman Mohammed Hassan Omran told Reuters. He declined to say when the decision might be made.

In 2005 Etisalat bought a 26% stake in PTCL for USD2.6 billion under an agreement that gives it management control.

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