Islamabad – 4 May 2018 Today, edotco Pakistan Private Limited (edotco PK), obtained the approval of Pakistan Telecommunication 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 the Regulator is a welcome promotion of the digital agenda making Pakistan an attractive destination for foreign investment.
The above 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 shareholding structure in Deodar, and by State Bank of Pakistan on the funding of the acquisition.