Pakistan, Aug. 11 -- Pakistan Telecommunication Company Limited (PTCL) on Monday clarified that identifying any specific target in connection with its proposed acquisition of a majority stake is "premature", saying the binding offer remains under negotiation and "no final decision has been reached".

The clarification came in response to an enquiry from the Pakistan Stock Exchange (PSX) following media reports linking PTCL's proposed investment to a specific digital wallet.

Last week, the market was rife with speculation that PTCL was eyeing on acquiring a known digital wallet.

The speculation intensified after PTCL informed the bourse on Friday that its Board of Directors had approved the submission of a binding offer to acquire a majo...