Islamabad, May 04, 2018 (PPI-OT): Today, edotco Pakistan Private Limited (edotco PK), obtained the required approval of PakistanTelecommunication Authority (PTA) on the change of shareholding in edotco PK by way of subscription by Dawood Hercules Corporation Limited (DH Corp) of 45% of the share capital of edotco PK, an end-to-end telecom infrastructure services company. This positive decision of the Government and theRegulator is a welcome promotion of the digital agenda making Pakistan an attractive destination forforeign investment.
This development marks one of the approvals related to the transaction steps on the acquisition by edotco PK of Jazz’s portfolio of 13,000 tower assets currently under Deodar Private Limited (Deodar).Further regulatory approvals are in process of being granted by PTA on the change of shareholdingstructure in Deodar, and by State Bank of Pakistan on the funding of the acquisition.
For more information, contact:
Director (PR)
Commercial Affairs
Pakistan Telecommunication Authority (PTA)
Tel: +92-51-9225346
Fax: +92-51-2878133
Email: comaff@pta.gov.pk
Website: www.pta.gov.pk