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Pakistan Telecom eyes domestic acquisitions, says CEO
TT Bureau |  |  16 Jun 2009

Pakistan Telecommunication Company Ltd. (PTCL) is engaging in acquisitions talks with a number of domestic companies, as it eyes mergers for the fiscal, said Chief Executive Officer Walid Irshaid at the CommunicAsia 2009 conference in Singapore.

 

The company CEO said that it is already in the middle of negotiations with various carriers and operators.

 

The telecom market of Pakistan, with its current six operators should be reduced to three operators of Global System for Mobile networks, opined Mr Warid.

 

According to him, the market should head for consolidation.

 

In 2004, the Pakistan government issued licenses to non-state telephone companies to start business, marking the end of Pakistan Telecom’s monopoly and henceforth, the company has lost business to rivals including Telenor ASA and China Mobile Ltd.

 

    
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16 Jun 2009(IST)  
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