Telenor Pakistan pays $395m for spare spectrum
13 June 2016 |
Telenor has been granted a 10MHz block of spectrum in the 850MHz band in Pakistan for $395m.
The Norwegian operator was the sole bidder for leftover 10 MHz of 850-MHz frequencies.
Telenor has been granted a 10-MHz block of spectrum in the 850 MHz band in Pakistan for US$395 million. It was the only bidder for the spectrum, left unsold at a 2014 auction, which it expects to have transferred to it within thirty days.The Minister of State for Information Technology and Telecommunication, Anusha Rehman, said that Telenor Limited will be awarded the license for next generation mobile service spectrum in the 850MHz band. The regulator has not yet published the official confirmation of the award.
Speaking at a press conference Telenor chairman Syed Ismail Shah said: "Since only one applicant, Telenor, has applied for the Next Generation Mobile Services (NGMS) spectrum in 850 Mhz at the base price of USD 395 million in accordance with the schedule given in the Information Memorandum (IM). The license will be awarded to Telenor within 30 days of the payment."
She said that the application of Telenor was evaluated in accordance with the terms and conditions of the IM and found complete in all respect.
The authority had set a base price for the auction at $395 million, 34% higher than the one set at $295 million for the previous successful spectrum auction held in 2014.
The chairman said that Pakistan Mobile broadband take-up is now more than India, Nepal and Bangladesh. At the end of April 2016 there were 28.7m mobile broadband subscribers.