Some rumors regarding the possible acquisition of PTCL and Ufone by Zong have been floating around the media. Etisalat, the group behind, Ufone with stake in PTCL has categorically denied any discussions on the acquisition front.
The press release forwarded by PTCL on approval of Etisalat says,
“Referring to recent press rumors, PTCL on confirmation from Etisalat would like to categorically state that no discussions regarding the sale of Etisalat’s stake in PTCL and its subsidiary Ufone to any company, have taken place.
Etisalat has confirmed that it remains committed to its business in Pakistan and continues to work for its success.”