China Mobile Acquires Paktel — Valued At $460 Million
China Mobile has agreed to buy 88.86 percent of shares in Paktel, the fifth largest carrier in Pakistan, from Luxembourg-based Millicom International Cellular according to TelecomsAsia. The deal values the Pakistani telco at $460 million… the telco had 1.53 million subscribers at the end of september compared to 944,718 a year earlier. Pakistan has over 165 million people.
nice toknow that china our friend has taken over the company….let us hope they induct true professionals…..and do remember people like me who served the company paktel during 1998-2000 as manager admin and hr punjab.
In a longer run, I see a merger of Paktel with some other opertaor. Lets see, what China Mobile has in their kitty !