Pakistan Telecommunication Company Limited (PTCL) has firmly denied recent speculation about a possible exit of its major stakeholder, UAE-based Etisalat, from the Pakistani telecom market.
The clarification comes amid media reports suggesting the Emirati telecom giant was reviewing its investments in Pakistan as part of a broader strategic reassessment.
PTCL officials have dismissed these claims, emphasizing that no such discussions are underway and reaffirming the ongoing partnership between the two entities.
Talking about the reports, PTCL CEO Hatem Bamatraf said that the company was preparing an official statement and emphasizing that no such conversation had taken place.
He clarified that such decisions rest with shareholders but added that, to his knowledge, Etisalat, PTCL’s managing partner, had not indicated any intent to withdraw.
He highlighted ongoing coordination between the two entities on strategy, budgeting, and performance, noting no change in engagement.
Etisalat acquired a 26 percent stake in PTCL in 2006 under a $2.6 billion deal. A long-standing dispute persists over roughly $800 million withheld by Etisalat due to property transfer issues, a claim Pakistan contests. Despite this, bilateral ties remain strong.
