Pakistan’s government expects to get at least eight bids for its state-owned telecommunications operator. The bidders will include Singapore Telecom and Telekom Malaysia, Abdul Hafeez Shaikh, Pakistan’s privatisation minister said.

Etisalaat of the UAE and investors from Kuwait, Saudi Arabia, South Africa, the Philippines and Pakistan are also expected to submit bids by the January 28 deadline.

Shaikh said the response to the government's plan to sell 26% of Pakistan Telecommunication had been "better than expected". The government plans to finalise the sale and transfer management of the company to its new owners by the end of June, he said.

Intelecon Research & Consultancy Ltd. 20/01/2005
Source: Financial Times