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Emirates Telecom says may double Pakistan stake
September 9, 2007 / 6:31 AM / 10 years ago

Emirates Telecom says may double Pakistan stake

DUBAI (Reuters) - Emirates Telecommunications Corp. (Etisalat) said on Sunday it was considering doubling its stake in Pakistan Telecommunications Co. to 51 percent.

“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.

Etisalat bought a 26 percent stake in PTCL in 2005 for $2.6 billion under an agreement that gives it management control.

Omran also said he expected Etisalat to invest at least $1 billion in Nigeria in the first three years after the company bought a 40 percent stake in a new Nigerian telephone operation last week.

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