ISLAMABAD – Pakistan Telecommunication Company Limited (PTCL) has categorically rejected recent media reports suggesting that its UAE-based majority shareholder e& (formerly Etisalat) is considering exiting the Pakistani market .
In an official statement issued on April 30, PTCL dismissed the reports as “baseless and speculative,” adding that the company is “not aware of the sources referenced in these reports” . The company emphasized that as a publicly listed entity, “unverified information may lead to unnecessary market speculation” .
PTCL Chief Executive Officer Hatem Bamatraf further clarified the situation during a webinar, stating: “We are going to issue a statement on this. There is no such thing” . He stressed that no exit-related discussions are happening at the shareholder level. “It is clear to me there is no such conversation happening at Etisalat,” he said, adding that coordination between PTCL and its shareholder remains ongoing regarding strategy, budgets and performance .
The reports, which surfaced in leading Pakistani media, claimed that the UAE telecom group was reviewing its exposure to Pakistan’s telecom sector as part of a broader portfolio optimisation exercise . However, PTCL stated that its shareholders remain “fully committed to the company’s long-term strategy and growth trajectory” .
This commitment is reflected in key strategic initiatives, including the acquisition of Telenor Pakistan and Orion Towers, Ufone’s 5G spectrum acquisition, and the continued expansion of the company’s fiber network across the country .
Etisalat International Pakistan acquired management control of PTCL in 2006 under a US$2.6 billion agreement, marking one of the largest foreign investments in Pakistan’s telecom sector .
