KARACHI: Ownership of Pakistan’s second-largest cellular service provider may soon change hands as Telenor Pakistan looks to exit the country amid growing cost of doing business and shrinking prospects, a report said.
As per those privy to the development, Telenor Pakistan is said to be in talks with an Emirates-based multinational telecom firm to sell its operations.
As per insiders talks between the Emirati firm, which already has a strong presence in Pakistan, and Telenor have reached an “advanced stage”.
The company had reportedly set an asking price between $1 billion and $1.2bn, but the interested party is looking to spend $780-910 million on the acquisition.
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