Pakistan Telecommunication (PTCL) should soon receive assets due to it as part of its partial privatization, its chief executive said, a development that could trigger an $800 million payment from shareholder Etisalat to the government.
Etisalat, the no.1 telecoms operator in the United Arab Emirates, led a consortium that bought a 26-percent stake in the Pakistani former monopoly for $2.6 billion in 2006.
The deal included transferring ownership of about 3,000 real estate properties to PTCL from the government, but this stalled and Etisalat withheld the final $800 million it owed.
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