Veon raises outlook as it unveils diversification strategy
Telecoms group Veon has increased its EBITDA guidance for FY 2019 and is looking beyond connectivity for future growth.
Telecoms group Veon has increased its EBITDA guidance for FY 2019 and is looking beyond connectivity for future growth.
Veon has announced it has backed out of plans to acquire GTH assets in Pakistan and Bangladesh due to the falling Pakistani Rupee and the reaction from GTH shareholders.
Malaysian telco Axiata, via its subsidiary Edotco, is buying the tower business of the largest Pakistani operator Jazz.
Norwegian operator group Telenor has appointed Michael Patrick Foley as CEO for its Pakistan operation. Foley currently serves as chief commercial officer at the Canadian State Lottery and will assume the role on July 1st, 2014.
Pakistan’s government has auctioned 3G and 4G spectrum licences, generating around $1.1bn as a result.
Pakistan’s telecoms regulator the PTA has reacted angrily to a story published by Reuters in which the news agency describes early stages of the country’s current 3G and LTE spectrum auction as “dismal”. In a statement that dismisses the Reuters report as “baseless” and “fabricated”, and raises the prospect of legal action, a PTA spokesperson claimed the auction’s progress is satisfactory.
Pakistan’s government instructed the nation’s operators to suspend cellular coverage in 53 cities and districts as a measure to prevent terrorist attacks, according to local reports. The move was made as the government feared violence over Chehlum on January 2, a day that honours the martyrdom of a historical political figure.
There were two million broadband users in Pakistan by the end of April 2012, according to recent figures from the country’s telecoms regulator.
Pakistani operator Mobilink has had all of its bank accounts frozen by the country’s Federal Board of Revenue (FBR), as the operator allegedly owes Rs8.6bn ($93m) in taxes to the authority.
Nordic operator group Telenor has been busy handling legal disputes this week, demanding compensation from Indian partner Unitech following the cancellation of its 2G spectrum licences and filing separate lawsuits against Nokia Siemens Networks and Huawei in Pakistan. The firm also announced that it is withdrawing all its longstanding legal wranglings against Altimo Holdings & Investments.
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