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Stock impact report

Telenor Pakistan's Buyer Set to Rival Sector Leader by Year-End [BNN Bloomberg (Canada)]

VEON Ltd. - American Depositary Shares (VEON) 
US:NASDAQ Investor Relations: veon.com/investor-relations
Company Research Source: BNN Bloomberg
will place it within sniffing distance of the market leader Veon Ltd.'s Jazz by bolstering its market share in the highly competitive sector. The Islamabad-based service provider expects to complete the transaction by December with “any required investment,” its Chief Executive Officer Hatem Bamatarf told Bloomberg on the sidelines of a conference in the city on Tuesday. The deal, struck in December that valued the target at 5.3 billion kroner ($487 million) will add 45 million customers to the subscriber base of Pakistan Telecom. This will also give it an overall market share of 36% up from 13% right now, data by Pakistan's Telecommunication Authority show, placing it at no. 2 and close on the heels of Jazz, the country's largest telecom player with a 37% market share. Pakistan Telecom, in which Emirates Telecommunications Group Co PJSC owns a minor stake, operates its mobile services company under the name of Ufone in world's fifth largest nation by population. Only three oper Show less Read more
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