Islamabad: Telecoms operator etisalat is in takeover talks with internet provider Nayatel, one of Pakistan's fastest-growing companies.
"They want to totally buy us out," Nayatel chairman Rashid Khan told Reuters in an interview, adding talks had slowed over the potential cost of a deal.
"Ultimately it comes down to price," said Khan, adding he also expected interest from Chinese and Norwegian companies.
No one from etisalat was immediately available for comment.
Gulf-based etisalat, the Arab world's second-biggest telecoms firm, has faced tough competition at home after its monopoly was broken in 2007 by Dubai-based du and operates in 18 countries.
Nayatel made its name by investing early in a fibre-optic network for direct connections to homes and businesses to allow for heavier data downloads.
The internet, telephone and cable TV service provider has paid-up capital of about $5 million (Dh18.36 million). Annual sales among its 7,000 customers top $12 million, said Khan, with revenue growth of 40-50 per cent a year.
