Economic crisis in Pakistan, decision to sell Telenor Company


Aeroworld Canada (Web News) Pakistan is currently going through the most critical period in history, the economic crisis has intensified, the value of the dollar is touching the sky. Due to the ongoing economic crisis in the country and the high cost of doing business, Pakistan’s second largest It has been decided to sell the company to Telenor. In this regard, negotiations with a multinational telecom company based in the Emirates have reached the final stages.

According to a report by American television network Bloomberg last November, the Norwegian telecom company in cooperation with its Citigroup
The company will begin bidding for the sale. But according to industry sources, the Norwegian company has sold the business.

To do this, it approached not one but two leading multinational investment banks.
Sources said that the Emirati company is prominent in almost all major telecom sectors of Pakistan and is interested in consolidating its position further.
The company’s operating expenses reached $5.5 million, the largest portion of which was spent on electricity costs.
According to the documents, during the last fiscal year the company spent $1.7 million in electricity bills to maintain the infrastructure. I paid.

In this regard, experts say that Telenor Pakistan will consider mitigating losses, according to the company’s approach
Telenor will do its business where the business opportunities are wider than in Pakistan. And get better.


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