Pakistan Telecommunication Company is Pakistan’s state owned telecom company but few of its shares are sold to the foreign UAE Company named as Etisalat. The reason for PTCL’s privatization is its smooth running and to equip it with latest technological advancements. Etisalat group has bought 26% shares of PTCL but the problem is that Etisalat […]
Former telecom minister of India Andimuthu Raja has arrested and Police presented him in front of court but the hearing is deferred. Not only minister but the other government and telecom industry officials are also arrested by the Indian police. The accused minister and other officials are included in the telecom sector corruption.
ISLAMABAD (August 05 2009): Etisalat International, buyer of the management control through purchase of 26 percent shares in Pakistan Telecommunication Company Limited (PTCL), has threatened to approach arbitration court in London if the GoP resorted to issuing Long Distance International (LDI) licence to China Mobile, official sources told Business Recorder.
“Etisalat is contesting the anticipated award of LDI licence to China Mobile as a breach of the Shares Purchase Agreement (SPA) and guarantees given to it,” sources said. Etisalat has already withheld payment of last tranche of about $780 million because according to it the GoP failed to transfer properties in the Punjab and Sindh in favour of PTCL.