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Etisalat Won Bid of Buying 26% Stake in PTC.

Asia Africa Intelligence Wire

| June 20, 2005 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From SinoCast China Business Daily News)

BEIJING, June 21, SinoCast -- Etisalat of United Arab Emirates beat China Mobile Communications Corporation to win the bid of buying a 26% stake in Pakistan Telecommunications Corp (PTC). Etisalat's offer, HKD 19.89 billion (USD 1 = HKD 7.77), was higher than that gave by China Mobile, according to announcement by Pakistan's Privatization Commission. Bidding stakes in the Pakistan's telecom company is the first move for China Mobile to acquire overseas assets on a massive scale. If the Chinese group made success, it …

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