DUBAI, 12 February 2007 — Emirates Telecom Corp. (Etisalat) has allocated an estimated AED40 million for restructuring Pakistan Telecommunication Company (PTCL), in which it owns a 26 percent stake and management control. Etisalat International Director-General Jamal Al-Jarwan said the executive council has approved allocation to better compete in the fiercely competitive Pakistan telecoms market.
The restructuring process will cover all aspects, including services, prices, sponsorship and marketing and is aimed at strengthening Etisalat International Pakistan’s competitive position and determining the areas in which the company can offer a value-added service to the subscribers, he added.
Jarwan said this plan would be implemented in 5-6 months.
Etisalat is on an expansion spree. After making its presence felt in Pakistan, Saudi Arabia, Egypt and West Africa, Etisalat is prepared to pay up to $3 billion to bid for state-run Algerie Telecom.
Algeria is expected to announce details on a partial privatization of Algerie Telecom by March this year. The Abu Dhabi-based firm has been expanding aggressively abroad as it has lost a virtual monopoly in the UAE to Dubai-based Du, which aims to gain 30 percent of the UAE market share.