Telenor is continuing with its ambitions to sell its Pakistani company, which is worth an estimated $1 billion. Later this month, the local Citigroup and the massive Norwegian telecom company will seek bidders for the sale, according to people who spoke to the reporters.
The issue for the Norwegian operator is to find a workable agreement that may make commercial sense for the firm and the shareholders, even though it is well-known that Telenor Pakistan has been up for grabs for a number of years.
Although the conclusion of the advanced negotiations between PTCL and Telenor is unknown, we are aware of them.
The intentions for realigning Asian operations were most recently confirmed by the chairman of the Telenor Group, and it appears that today’s story centers on the same issue.
Telenor Pakistan was contacted by sources for a response, but it chose not to address the rumors and conjecture.
After investing $244 million in a faltering economy, Telenor has previously stated that it will conduct a strategic assessment of its activities in Pakistan.
Unnamed sources claimed that organizations with roots in the Middle East and Asia that currently have operations in Pakistan are anticipated to participate in the bidding process later this month.
To read our blog on “Don’t want to hold Telenor Microfinance Bank acquisition deal, MCB,” click here
