Telecom operator VEON (Jazz) talks to sell its towers in Pakistan
According to a report by Bloomberg, the CEO of VEON Kan Turzeoglu says that there are about 10,000 to 12,000 towers of the company in Pakistan.
He says that the cost of a tower is between 60,000 to 80,000 dollars depending on the interest rate.
He also says that the total cost of all the towers can be between 60 crore to 96 crore dollars.
A Saudi telecom company, TPL Corporation of Pakistan and a consortium of TASC Towers of the UAE and Pakistani company Engro have bid to buy the towers.
VEON company founded in Moscow in 1992, it was called Vimpelcom. Now the company is based in the Netherlands. It has customers in 9 countries, but half of the company’s revenue still comes from Russia.
Last year, VEON sells 15,000 of its towers in Russia for $970 million. The CEO says, adding that the company wants to sell 30,000 more towers.