PTCL authorized to offer binding bid for telecom sector investment

By MG News | August 29, 2023 at 03:48 PM GMT+05:00

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August 29, 2023 (MLN): The Board of Directors (BoD) of Pakistan Telecommunication Company Limited (PSX: PTC) has authorized the company to explore potential investment opportunity(ies) in the telecom sector in Pakistan, the latest company’s filing on the PSX showed today.

This is in reference to the company’s earlier letter dated January 31, 2023.

After a due diligence process, BoD on August 29, 2023 authorized the company to offer a binding offer to the target company.

This opportunity is subject to certain conditions, including inter alia acceptance of the offer, finalization and execution of definitive documents as well as receipt of all regulatory consents and approvals.

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