According to a report on Tuesday, Veon Ltd, a Dutch-based operator of telecommunications networks, is advanced discussions to sell its tower assets in Pakistan.
Kaan Terzioglu, group chief executive officer of Veon, stated in an interview that the selling process is almost complete. In Pakistan, the corporation operates 10,000–12,000 towers.
Depending on interest rates, one tower’s value ranges from $60,000 to $80,000, according to Terzioglu. This indicates that the corporation has a value of $600 million to $960 million on its tower assets in Pakistan.
A Saudi Telecom Co. division, a partnership between Pakistan’s TPL Corp. and the UAE’s TASC Towers, and the Pakistani giant Engro are reportedly among the bids for the towers, according to Bloomberg.
No official statement has been made about the rumored transaction by any of the corporations who are supposedly interested in buying the towers.
It is important to note that TPL REIT Management Company Limited, a fully-owned subsidiary of TPL Properties Limited, formed a strategic alliance with TASC Towers of the United Arab Emirates in September for the purpose of purchasing a Telecom Tower Infrastructure Company through an Infrastructure Real Estate Investment Trust (REIT).
TPL RMC and TASC, as a consortium, took part in an auction procedure for the purchase of a Telecom Tower Infrastructure Company through an Infra REIT, per a stock filing made at the time, subject to receiving all necessary clearances and authorization from the regulatory authorities.
To read our blog on “VEON’s JazzCash Strengthens Pakistan’s Payments Ecosystem With Mastercard Partnership,” click here
