Etisalat might double stakes in PTCL

In what seems like a signal that the party night is still young, Etisalat is said to be considering an increase in its shares in PTCL from 26 per cent to 51 per cent. A repeat order, after all, is a sign of the ordering partying enjoying the value of the stuff ordered!

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 had earlier bought 26 per cent shares and management control in a privatization deal with the Government of Pakistan. The deal has been repeatedly attracting objections, criticism and bad press for a number of reasons ever since it was struck in 2006.

Industry fellows at  PTCL regularly disclose that change in the organization so far is skin deep. The absolute mess in fields of customer services, presentation and heck, even the corporate website is the reason that a makeover in these areas appear to be so ‘image changing’. The first batch of change-makers that the company is said to have hired are all from non-technology sector and the middle management at PTCL criticize that ‘no one is addressing the technical issue that actually deserve the real attention’.

However, we also need to appreciate that quantum personality changes that go deep below the skin is no easy task giving the size and responsibility – both technical and social – that lies at PTCL.


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