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Pakistan sees Etisalat resolving $799 mln dispute soon

Pakistan sees Etisalat resolving $799 mln dispute soon

DUBAI: Pakistan expects Etisalat to soon settle the $799 million it owes from a 2006 investment in the country's former telecom monopoly, the finance minister told Reuters. Settlement would provide vital funds for the cash-strapped government. Etisalat, the United Arab Emirates' largest telecom operator by revenue and subscribers, led a consortium that bought a 26-percent stake in Pakistan Telecommunication Co (PTCL) for $2.6 billion. But Etisalat, which also obtained majority voting rights in PTCL, withheld $799 million…