19/12/2022
Wireless digital telecommunication network Veon(Parent company of Jazz) is in advanced talks to sell its power assets in Pakistan declared in a report on Tuesday. Veon owns 10,000 to 12,000 towers in Pakistan, whereas the value of each building is approximately $60,000 to $80,000, depending on interest rates.
It has been indicated that the TPL-TASC group has emerged as the most likely buyer after beating out rival bidders including other telecom companies. If the towers are sold, it will be Pakistan’s most significant transaction since 2011. Deliberations are ongoing, and the companies may still decide against a deal.
Veon CEO Kaan Terzioglu said in an interview last month, without naming a bidder, that the divestment in Jazz Towers was “very close to completion”. According to the report, a unit of Saudi Telecom Co. and Pakistani conglomerate Engro were also among the bidders for the assets.
Veon is a telecommunication network that was established in Moscow back in 1992. Since then, it has expanded into a Dutch-domiciled global communications giant. According to the record, it has more than 127 million customers in nine countries.
Read more: https://www.techjuice.pk/jazz-is-ceasing-its-selling-tower-assets-business-in-pakistan/
