Dubai : Etisalat wants outstanding land sales in its buy of the Pakistan Telecommunications Company deducted from the deal value, a letter to the Pakistan government seen by Reuters shows.
However the idea has been rejected.
Etisalat has been locked in a dispute over the $2.6 billion (Dh9.5 billion) buy of a 26 per cent stake in the Pakistani firm since 2006, due to complications over land sales linked to the deal.
Etisalat International Pakistan (EIP) has paid only $1.8 billion so far, as it awaits the transfer of the land.
And in a June 20 letter seen by Reuters, it sought to deduct the value of the land yet to be transferred, estimated at some $450 million.
In the letter, Etisalat International Pakistan asked the Pakistani government to suggest a cut-off date for the deduction and receive the balance of the payment.
No discounts
However, a Pakistani official told Reuters yesterday, under the condition of anonymity, that it would "not accept any discounts" on the outstanding $800 million, although it would accept an initial $500 million and the balance at a later date.
"The remaining properties are private and not linked to the government at all, that's why it's taking more time," the official said, declining to give a date when he expected the land transfers to be finalised.
The deal included the transfer of some 3,000 properties mainly in the Punjab and Sindh provinces to etisalat, of which 93 per cent had been handed over, a government employee told Reuters in December.
Increased competition
Etisalat could not be reached for comment.
Etisalat, the Arab world's second-biggest telecoms firm, has faced increased competition in its home market after its monopoly was broken in 2007 by the du company.
Etisalat, which operates in 18 countries including Egypt and India, is one of a number of Gulf Arab tele-com operators that have expanded overseas.
This was after losing their monopolies at home.
Pakistan owns 62 per cent of the Pakistan Telecommunications Company, and another 12 per cent is held by the general public.
Etisalat offers cheaper roaming
Abu Dhabi Etisalat customers can now maximise value and stay connected on voice and video calls while roaming outside UAE throughout this summer until 20 September, the company said.
Etisalat's new roaming offer would offer customers the best roaming rates in the country on the region's widest roaming network partnership with 579 networks spanning 190 countries globally, the company said.
Etisalat yesterday said it was now offering two packages for customers travelling abroad.
These would apply to Etisalat Wasel prepaid as well as post-paid GSM customers.
Customers could take up one or both of the offers to suit their needs and their destinations.
No deposit
As part of the offer, post-paid GSM customers would be able to use and enjoy the roaming service without paying a deposit.
For travellers to the Arab countries, the package offered at Dh100 included with 100 minutes worth of voice and video calls. This price included all other taxes and operator charges, the company said.
The offer was valid for one month from the activation date.
In addition, incoming calls that exceed the 100 minutes bundle would be charged to customers at only one dirham, applicable for the duration of subscription.
Customers could subscribe to this offer in UAE or from outside by sending "r arab100" to 1010.
The special roaming offer for customers travelling to any other country globally, gave them 100 minutes of incoming voice and video calls for Dh200 that included all taxes and operator charges.
The package was valid for a month from the date of activation.
In addition, extra incoming calls received over and above the 100 minute bundle would cost Dh1, applicable during the month of subscription.
Customers could subscribe to this package in the UAE or from outside by sending "r row 200" to 1010.
Customers applying for both packages could renew their subscriptions as many times during the offer period until September 20.
