Etisalat Never Approached Transworld for Buyout: VP Transworld

Etisalat Never Approached Transworld for Buyout: VP Transworld

Etisalat has not contacted Transworld or its parent groups for buyout, confirmed us Mr. Zulfiqar Qazilbash, VP Commercial, Transworld.

ProPakistani had contacted Transworld for confirmations after at least two media outlets yesterday reported that Etisalat is in final talks with Transworld for acquiring its operations in Pakistan.

“The news appearing in media that Etisalat has made an offer to acquire Transworld and its operations in Pakistan is incorrect. Etisalat has not made any such offer nor is the Board of Directors considering any such offer at this time”, said Mr. Qazilbash in a communication with ProPakistani.

Express Tribune, without quoting any names, had reported that Etisalat is in the final round of negotiations with Transworld Associates for acquisition.

Commenting on the news, Mr. Qazilbash said that such fabricated news can negatively impact our business relationships & the confidence of our customers.

Transworld is an Orascom Telecom Group company. It sells internet bandwidth and communication services ISP’s, Telco’s and major multinational corporate clients. Transworld infrastructure consists of a submarine global network that extends from Europe to Far East with landing in Pakistan.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

  • Guest

    Transworld is up for sales since long due to its bad financial outlook. Only PTCL and Wimple Com is interested to acquire it. Lets see who win the race.

  • Insider

    PTCL is directly involved, it wasn’t etisalat directly (rather indirectly). The deal was contemplated around january/february but dunno what happened.

  • Adam Hu, Journalistic TX MEA

    This is the propaistani way, the right reporting.

    Amazing catch really, I am surprised that both Etisalat and trandsworld don’t have a PR pro in to tell that this is not true, Tribune offers rebuttals FoC against wrong
    reporting worldwide.

    I think in Tribune editorial Pakistan wng somehow, the intervention of new blood is coming with very poor journalistic skills, including their research on the subject they are going to launch using Express Tribune faith in it.

    Thanks to Propak for taking up the step in bringing facts.

    For my news in MEA, i follow propak, its the best and the most updated always.

  • Suhaib Malik

    Apparently tribune now deleted the story. Not able to access the URL that you posted in article as a reference.

  • what is transworld