Etisalat says affiliate eyeing Pakistan telco

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Etisalat, the Gulf's biggest telecommunications operator, said on Monday that its affiliate Pakistan Telecommunication Co Ltd (PTCL) had expressed interest in mobile operator Warid Telecom.

Warid, Pakistan's smallest operator, has been put on the block by its Abu Dhabi owners in a sale likely to fetch up to $1 billion, Reuters reported last month. Earlier this week, Reuters reported that Etisalat had hired Goldman Sachs Inc to advise on a potential bid for Warid.

Etisalat holds a 26 percent stake in PTCL and also has management control of the business in Pakistan.

"Etisalat Group holds a stake in PTCL with managerial control and PTCL has expressed an interest in Warid Telecom. Etisalat Group cannot offer further comment and will not comment on speculation regarding Warid Telecom," Etisalat's spokesman Ahmed bin Ali said in an emailed statement.

Pakistan's mobile telecommunications sector has five operators and is ripe for consolidation after a period when a troubled economy, increasingly high levels of market penetration and stiff competition has forced companies' margins lower.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of Talabat.com to Germany’s Rocket Internet for...

What's behind modern spaceship design?

What's behind modern spaceship design?

A fleet of privately owned vehicles is set to challenge NASA...

Insider: Oil and gas sector in fear of hackers as cyber attacks surge 179%

Insider: Oil and gas sector in fear of hackers as cyber attacks surge 179%

Experts have put the vital industry on high alert as the threat...

Most Discussed