Incumbent Pakistan Telecommunication Company (PTCL) has lent Rs11bn (US$124m) to its mobile subsidiary Ufone, according to local newspaper The Nation.
The funding is reportedly aimed at expanding the company’s operations nationwide including…
Incumbent Pakistan Telecommunication Company (PTCL) has lent Rs11bn (US$124m) to its mobile subsidiary Ufone, according to local newspaper The Nation.
The funding is reportedly aimed at expanding the company’s operations nationwide including investments in network infrastructure, technical advancement and marketing areas.
Last month, PTCL was reportedly considering merging Ufone with another operator.
CEO Walid Irshaidwith was quoted saying that with five large mobile operators and very low rates, the Pakistan telecom market needs to be consolidated so that companies can survive.
PTCL could not be reached for comment before the press deadline.
