Official: PTCL Denies Any Buyout Talks with Zong

Pakistan Telecommunication Company Limited (PTCL) has officially denied any talks with Zong or anyone else for a buyout, ProPakistani has confirmed.

It maybe recalled that local media had recently reported that Zong was in talks with Etisalat for buyout of PTCL and Ufone. Media reports had wrongly claimed that Zong and Etisalat had met on the matter at least twice during the past few months.

PTCL however, has refuted these reports and confirmed with ProPakistani about no such development going on.

A PTCL spokesperson had this to say about the ongoing media reports about buyout talks:

PTCL, on confirmation from Etisalat, would like to categorically state that no discussions regarding the sale of Etisalat’s stake in PTCL and its subsidiary Ufone to any company, have taken place.

PTCL said that Etisalat remains committed to its business in Pakistan and continues to work for its success.

It maybe recalled that PTCL is 62% owned by Government of Pakistan, 26% owned by Etisalat while remaining 12% shares are traded publicly on Pakistan Stock Exchange.

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

  • Mobilink also denied Acquiring Warid many times before official confirmation made. So rumours will only get stronger after this statement as Zong CEO already hinted for the acquisition of a company in Pakistan near Future. And keeping Zong’s increasing interest in PTCL’s infrastructure in mind It is evident that Zong is keen to buy Etisalat even at a high price to maintain its dominance in Pakistan’s Wireless broadband market.

  • Yesterday i read this story on phone world according to them 3 meetings have been done between zong and etisalat.dont know which one is true.

  • اس خبر میں صداقت لگتی ہے کے زونگ یوفون کو خرید رہا ہے کیونکہ کہ یوفون نے فور جی کے لئے درخواست بھی نہیں دی بولی میں حصہ لینا تو دور کی بات اور چائنا راہداری کی وجہ سے زونگ کو بہت بڑے نیٹورک کی ضرورت ہے کیونکہ کے چائنہ کی آدھی سے زیادہ برآمدات پاکستان کے رستے سے ہو گی اس کے لئے یوفون اور پی ٹی سی ایل سے بہتر کوئی چوائس نہیں اور ہمیں یاد ہے جب وارد موبی لنک کی کہانی دی نیوز نے بریک کی تھی تو عامر بھائی نے اسی طرح کا آرٹیکل لکھا تھا یہ نہیں ہے کہ عامر بھائی کو اندر کی بات کا نہیں پتہ تھا بلکہ ان خبر چھپانے کا حکم تھا بقول عزیزی کے صحافیوں کو خبر لگانے کے بھی پیسے ملتے ہیں اور خبریں چھپانے کے بھی

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