Etisalat was in Buyout Talks with Nayatel/Micronet

Etisalat was in takeover talks with Nayatel, a local internet service provider based in Islamabad/Rawalpindi, reported Reuters.

Nayatel confirmed that Etisalat was indeed in talks with Nayatel for buyout of its DSL/Fiber-optic operations. However, talks remained inconclusive and are over now due to price differences from both the sides.

Local internet service provider companies are facing tough competition from PTCL, probably a reason that Micronet had to close its broadband operations for at least 3 exchanges in Islamabad recently.