Etisalat yet to pay $799m for PTCL privatisation’
ISLAMABAD: Minister for Privatisation Ghous Bux Khan Mahar on Thursday told the Senate that 26 percent shares of Pakistan Telecommunication Company Limited (PTCL) were sold to Etisalat for $2.598 billion and the company had paid $1.799 billion so far.
Replying to a question during question hour, he said that the total outstanding amount Etisalat was $799 million.
He said that as per terms of the agreement the amount would be paid after transfer of properties in possession of PTCL to Etisalat.
To another question, he said that PTCL was privatised through sale of 26 percent shares (1,326,000,000) along with transfer of management control.
Reference price of Rs 62 per share was approved by the Cabinet Committee on Privatisation, he said and added that Etisalat offered $2.599 billion, China Mobile $1.409 billion and Sing Tel $1.167 billion for buying shares of PTCL. app
Replying to a question during question hour, he said that the total outstanding amount Etisalat was $799 million.
He said that as per terms of the agreement the amount would be paid after transfer of properties in possession of PTCL to Etisalat.
To another question, he said that PTCL was privatised through sale of 26 percent shares (1,326,000,000) along with transfer of management control.
Reference price of Rs 62 per share was approved by the Cabinet Committee on Privatisation, he said and added that Etisalat offered $2.599 billion, China Mobile $1.409 billion and Sing Tel $1.167 billion for buying shares of PTCL. app
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