The Pakistan Telecommunication Company Limited (PTCL) is all set to make its non-binding offer for acquiring Telenor Pakistan at a possible price range of $800 million to $1.2 billion.
Last week, the PTCL Board of Directors approved expressing interest in acquiring a majority stake in Telenor Pakistan. They are interested in acquiring Telenor Pakistan with management control.
Etisalat, the parent company of PTCL, will provide guarantees to raise commercial loans in order to complete this transaction.
Telenor’s management has asked for payment in US dollars, so arrangements will have to be finalised before moving ahead toward a binding offer to accomplish the deal.
Top official sources confirmed on Monday that the PTCL’s interest in acquiring the shares of Telenor Pakistan had been conveyed to Prime Minister Shehbaz Sharif. If both parties agree to the non-binding offer, then the PTCL will make its offer to accomplish this transaction, said the official sources.
