PTCL and Ufone Sale not on the Card- PTCL Responds to the Sale News

PTCL and Ufone Sale not on the card- PTCL responds to the Sale News. PTCL, on behalf of Etisalat has officially responded to the news that “Zong Shows Interest to Purchase PTCL & Ufone” yesterday on it official Facebook page. The news of possible acquisition of PTCL along with its subsidiary Ufone, first appeared on PTCL Pensioners Facebook page and also on Telecom Workers website specially on the backdrop that both companies are financially seeing a downward trend for quite some time and the operational merger between the two companies has also been going where quite a lot of employees have been relieved. PTCL said that:

“Referring to recent press rumors, PTCL on confirmation from Etisalat would like to categorically state that no discussions regarding sale of Etisalat’s stake in PTCL and its subsidiary Ufone to any company, have taken place. Etisalat has confirmed that it remains committed to its business in Pakistan and continues to work for its success.”

PTCL and Ufone Sale not on the Card- PTCL Responds to the Sale News

PTCL is the largest fixed ICT services provider in Pakistan encompassing fixed line voice telephony, Wireline and Wireless broadband internet, Broadband and multimedia services, digital television and a wide array of corporate solutions for businesses and enterprises. PTCL 62% shares are owned by the Government of Pakistan whereas in 2003 the company sold its 26% shares to Dubai based company Etisalat with management rights..