Engro Corporation, has announced to acquire a mobile phone towers network from Pakistan Mobile Communications Limited at a price of $563 million.   The  leading conglomerate in Pakistan  will guarantee the repayment of Deodar’s debt of $375 million  and provide PMCL with an additional amount of $187.7 million.     The transaction has developed partnership between the two firms to improve the towers management at a reduced cost and offer better services to mobile phone users.    Engro will upgrade the acquired towers into shared towers, meaning other mobile network operators would also use the towers network to offer services to their respective customers.     There are currently three major mobile network operators in Pakistan including Jazz/Warid, Ufone/Telenor, and Zong. In past, Jazz acquired Warid and Ufone bought Telenor.   Deodar has a total tower count of 10,500, translating into per tower price of $53,590.  VEON Group, Jazz’s parent company, also confirmed the enterprise value of $563 million in a statement.    Engro’s existing tower count under Engro Enfrashare is 4,063 with asset base of Rs69 billion or $250 million, translating into per tower asset value of $61,545, it said. (ICE ISLAMABAD)

Fonte notizia: business recorder