Jazz Is Selling All Its Tower Assets In Pakistan

Jazz Is Selling All Its Tower Assets In Pakistan

The VEON Wireless Digital Communications Network is on advanced negotiations to sell its power assets in Pakistan, reported on Tuesday. VEON owns 10,000 to 12,000 towers in Pakistan, while the value of each building is approximately $ 60,000 to $ 80,000 depending on the interest rate.

It has been shown that the TPL-TASC group appears as the most likely buyer after beating rival volunteers, including other communications companies. If the towers are sold, Pakistan’s most important deal will be from 2011. Consultations continue, and companies may still decide against the transaction.

The CEO of Veon Kaan Terzioglu, in a last month’s interview, without naming the bidder, said the jazz transfer is “very close to the end”. According to the report, a unit of the Saudi distance company and the British Pakistani congresses were also among the assets.

VEON is a long -lived network founded in Moscow in 1992. Since then, it has expanded to a Dutch global communication giant. According to this record, it has more than 127 million customers in the nine countries.

Undoubtedly, the company is currently Russia’s largest operator and has just begun sales process. However, due to the various consequences of the Ukrainian war, the company’s share price has fallen by two -thirds this year. Not only last year Won sold 15,000 towers in Russia with nearly $ 970 million to LLC telecommunications services.

In addition, the sales process is very close to the conclusion. According to the report, Saudi Arabia is Co.unit Co.unit is a consortium between Pakistan’s TPL CORP and TASC Towers based in the United Arab Emirates, and Pakistani Cangooma Cangooma.

During the meetings with various stakeholders of the IT industry, the VEON Board of Directors also emphasized that a healthy and sustainable remote communications department, the foundation of a country’s digital ecosystem, almost all sectors of the economy and prerequisite for continuous improvement of quality quality fuel Gives. This service is for users.

However, the financial health of the communications industry has recently been affected by an unprecedented increase in the cost of operations: primarily fuel, electricity, interest rates, constantly USD leather spectrum installments and more recently severe infrastructure. Critical digital with floods that now threaten the survival of the communications sector.

However, a Saudi spokesman for Won and remote communication refused to comment. The TPL-TASC Consortium and the ENGRO officials did not respond immediately. None of the companies responded to the purchase of towers and commented on the potential transaction.

In addition, it should be noted that the TPL Management Limited, a subsidiary of the TPL Properties Limited. He decided to cooperate with the TASC towers based in the UAE. To obtain a communications tower infrastructure company through the trust in real estate (Reit).

The TPL Reit Limited Management Company is entirely owned by the TPL Properties Limited. TPL RMC and TASC, as a consortium, participated in the auction to obtain the maximum shares of the communications infrastructure company via infrared. This was the purpose of receiving all basic permits and licenses from the supervisory authorities.

In 2017, Veon and Global Telecom (GTH) agreed to sell their tower trade in Pakistan for nearly $ 940 million. According to the Tanzanite agreement, a force operating company run by a Malaysian physician and Davood Hercules buys Veon and GTH subsidiaries in Pakistan. Including Jazz, and the tower company entirely, it was deodar, which had more than 13,000 jazz. Alas, companies are waiting to see if they successfully obtain the necessary regulatory approvals to close the potential transaction.

VEON sold more than 15,000 towers in Russia last year to Service-Telecom LLC at an approximate price of $ 970 million. Terzioglu told Bloomberg News in August that the company has about 30,000 more towers for sale and is talking to prospective buyers in Pakistan, Bangladesh, Kazakhstan, Uzbekistan and Ukraine.

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