http://www.dawn.com/2007/01/22/welcome.htm
China Mobile acquires Pakistan's 5th-largest cell phone carrier Paktel
SHANGHAI, January 22 (APP/AP) China Mobile Communications Corp. has agreed to buy 88.86 percent of shares in Paktel Ltd., Pakistan's fifth largest mobile carrier, the company's listed unit said Monday.
The deal values Paktel at US$460 million ($355 million), China Mobile Ltd. said in an announcement. Millicom has operated in Pakistan since 1990.
As of Sept. 30, Paktel had 1.53 million total subscribers, up 62 percent from 944,718 the year prior, placing it fifth in terms of active subscribers. (Posted @ 14:03 PST)(Posted @ 14:03 PST)
QUOTE(Hellraiser006 @ Jan 22 2007, 06:06 AM) [snapback]852520[/snapback]
http://www.dawn.com/2007/01/22/welcome.htm
China Mobile acquires Pakistan's 5th-largest cell phone carrier Paktel
SHANGHAI, January 22 (APP/AP) China Mobile Communications Corp. has agreed to buy 88.86 percent of shares in Paktel Ltd., Pakistan's fifth largest mobile carrier, the company's listed unit said Monday.
The deal values Paktel at US$460 million ($355 million), China Mobile Ltd. said in an announcement. Millicom has operated in Pakistan since 1990.
As of Sept. 30, Paktel had 1.53 million total subscribers, up 62 percent from 944,718 the year prior, placing it fifth in terms of active subscribers. (Posted @ 14:03 PST)(Posted @ 14:03 PST)
Now PakTel would become another competetor in market, China Mobile would going to give other operaters a real tough competition. It is a positive development for consumers and also CM would bring further investment to upgrade and develop its network.
this week hase been quite good. first there was the announcement that Philip Morris were going to buy up Lakson Tobacco in a $400 million deal and now this.Also, Port Singapore will invest $550 million in Gawadar although that is over 5 years.I am sure there are other stories that I have missed but investment seems to be pouring in at the moment.
other newspapers also reporting this deal.
http://thenews.jang.com.pk/updates.asp#16590
http://www.brecorder.com/
other newspapers also reporting this deal.
http://thenews.jang.com.pk/updates.asp#16590
http://www.brecorder.com/
Telenor Pakistan Crosses 1100 Destinations Mark
Telenor Pakistan has reached yet another milestone by crossing the 1100 destination mark on 17 January 2007. Telenor Pakistan customers are now connected with over 1100 cities, towns, villages, and highways across the country.
Talking about this massive expansion in network, CEO Telenor Pakistan Tore Johnsen said: "With this record expansion, no place is far enough for our customers to remain connected. However, it is not just the pace of expansion but also the quality that matters to us. We want to enable people everywhere to stay in touch with their loved ones by ensuring high quality connectivity, superior voice clarity, and high performance data services. We have achieved, in a short period of time, what other companies have taken years to deliver."
The Mobile World subscriber database reports that Telenor ended Q3 '06 with a little under 4.6 million customers, giving them a market share of 11%.
http://www.cellular-news.com/story/21537.php
China Mobile makes landmark acquisition
China Mobile Communication Corp (CMCC) yesterday said it had agreed to take over Pakistan's mobile phone firm Paktel Ltd for $284 million, marking its first major overseas acquisition.
Under the deal, CMCC parent of Hong Kong-listed China Mobile Ltd agreed to acquire from Luxembourg-based Millicom International Cellular SA an 88.86 percent stake in Pakistan's fifth-largest mobile operator.
The acquisition followed CMCC's abortive bid last year for Millicom, which runs mobile networks in 16 countries in Latin America, Africa and Asia. The deal was estimated at $5.3 billion and would have been the largest overseas acquisition by a Chinese company.
Marc Beuls, president and chief executive officer of Millicom, said in a statement that Millicom chose to sell Paktel to CMCC after a number of parties showed "strong interest"; and the deal would enable Millicom to "focus on the 16 markets where we have already established strong market positions".
The deal, which is expected to be completed next month after regulatory approvals, marks a big step forward for CMCC, which has been increasingly aggressive in tapping into overseas emerging markets.
CMCC is regarded as the most capable Chinese operator to expand overseas through acquisitions.
Its Hong Kong-listed arm had 71.4 billion yuan ($9.1 billion) in cash and cash equivalent by June 30, 2006.
Lu Qijun, a researcher with the State-owned Asset Supervision and Administration Commission, said it's natural for CMCC to expand abroad to generate new revenue streams.
"The government has been encouraging telecom operators to expand overseas to grow stronger and bigger," said Lu, adding CMCC is well-positioned to tap into overseas markets thanks to its fat profits.
CMCC last year generated 285.3 billion yuan in revenues and 96.8 billion yuan ($12.4 billion) in pre-tax profits. The firm had 318 million mobile phone subscribers by the end of last year, up 20 percent year-on-year.
According to statistics released by the Ministry of Information Industry (MII) yesterday, China had a total of 461 million mobile phone users by the end of 2006.
With mobile phone penetration running high in big cities, CMCC has identified emerging markets including China's rural areas and developing countries as a major battlefield for new subscribers.
Pakistan has a population of more than 160 million but mobile phone penetration stood at only 12.8 percent in 2005, which promises much potential for subscriber growth.
Paktel had 1.56 million mobile phone subscribers by October 2006, an increase of 69 percent compared to December 2005.
Chinese operators' overseas expansion could benefit domestic telecoms equipment manufacturers such as Huawei Technologies and ZTE Corp.
CMCC is expected to upgrade Millicom's networks if it acquires the firm. Huawei is an equipment supplier to Millicom.
"We believe China Mobile's successful acquisition of Paktel would have a positive effect on our business in Pakistan," said a Huawei spokesman.
http://english.peopledaily.com.cn/200701/2...123_343780.html
Telenor Pakistan has reached yet another milestone by crossing the 1100 destination mark on 17 January 2007. Telenor Pakistan customers are now connected with over 1100 cities, towns, villages, and highways across the country.
Talking about this massive expansion in network, CEO Telenor Pakistan Tore Johnsen said: "With this record expansion, no place is far enough for our customers to remain connected. However, it is not just the pace of expansion but also the quality that matters to us. We want to enable people everywhere to stay in touch with their loved ones by ensuring high quality connectivity, superior voice clarity, and high performance data services. We have achieved, in a short period of time, what other companies have taken years to deliver."
The Mobile World subscriber database reports that Telenor ended Q3 '06 with a little under 4.6 million customers, giving them a market share of 11%.
http://www.cellular-news.com/story/21537.php
China Mobile makes landmark acquisition
China Mobile Communication Corp (CMCC) yesterday said it had agreed to take over Pakistan's mobile phone firm Paktel Ltd for $284 million, marking its first major overseas acquisition.
Under the deal, CMCC parent of Hong Kong-listed China Mobile Ltd agreed to acquire from Luxembourg-based Millicom International Cellular SA an 88.86 percent stake in Pakistan's fifth-largest mobile operator.
The acquisition followed CMCC's abortive bid last year for Millicom, which runs mobile networks in 16 countries in Latin America, Africa and Asia. The deal was estimated at $5.3 billion and would have been the largest overseas acquisition by a Chinese company.
Marc Beuls, president and chief executive officer of Millicom, said in a statement that Millicom chose to sell Paktel to CMCC after a number of parties showed "strong interest"; and the deal would enable Millicom to "focus on the 16 markets where we have already established strong market positions".
The deal, which is expected to be completed next month after regulatory approvals, marks a big step forward for CMCC, which has been increasingly aggressive in tapping into overseas emerging markets.
CMCC is regarded as the most capable Chinese operator to expand overseas through acquisitions.
Its Hong Kong-listed arm had 71.4 billion yuan ($9.1 billion) in cash and cash equivalent by June 30, 2006.
Lu Qijun, a researcher with the State-owned Asset Supervision and Administration Commission, said it's natural for CMCC to expand abroad to generate new revenue streams.
"The government has been encouraging telecom operators to expand overseas to grow stronger and bigger," said Lu, adding CMCC is well-positioned to tap into overseas markets thanks to its fat profits.
CMCC last year generated 285.3 billion yuan in revenues and 96.8 billion yuan ($12.4 billion) in pre-tax profits. The firm had 318 million mobile phone subscribers by the end of last year, up 20 percent year-on-year.
According to statistics released by the Ministry of Information Industry (MII) yesterday, China had a total of 461 million mobile phone users by the end of 2006.
With mobile phone penetration running high in big cities, CMCC has identified emerging markets including China's rural areas and developing countries as a major battlefield for new subscribers.
Pakistan has a population of more than 160 million but mobile phone penetration stood at only 12.8 percent in 2005, which promises much potential for subscriber growth.
Paktel had 1.56 million mobile phone subscribers by October 2006, an increase of 69 percent compared to December 2005.
Chinese operators' overseas expansion could benefit domestic telecoms equipment manufacturers such as Huawei Technologies and ZTE Corp.
CMCC is expected to upgrade Millicom's networks if it acquires the firm. Huawei is an equipment supplier to Millicom.
"We believe China Mobile's successful acquisition of Paktel would have a positive effect on our business in Pakistan," said a Huawei spokesman.
http://english.peopledaily.com.cn/200701/2...123_343780.html
http://thenews.jang.com.pk/daily_detail.asp?id=39941
China Mobile takes control of Paktel
Asian giant, Millicom sign $284 million agreement
By Imran Ayub
KARACHI: China Mobile is set to enter into Pakistan’s cellular industry, as the Asian telecom giant has reached a $284 million deal with the Luxembourg-based Millicom International to acquire its operations in Pakistan Paktel, one of the six cellular operators in the country.
Sources in telecom said the Millicom International, which operated both AMPS and GSM cellular services through Paktel in Pakistan had formally announced the deal to finally wrap up its more than 15-year operations in the country.
“Millicom International has signed an agreement for the sale of 88.86 per cent shareholding, in Paktel Ltd to China Mobile Communications Corporation,” said a Millicom International statement.
“The transaction implies an enterprise valuation for Paktel Ltd of $460 million. The total cash consideration payable to Millicom as a result of the transaction (including the repayment of inter-company debt) is approximately $284 million.”
It said the completion of the transaction is subject to certain regulatory approvals and procedures and if such requirements were met, conclusion of the deal was expected to occur in late February 2007.
“Now the two parties would formally approach the telecom authorities in Pakistan to get a nod over the deal,” said a source close to the Millicom’s operations in Pakistan. The Millicom authorities in November 2005 announced that they were discussing the sale of one of its Pakistani units.
The same month Millicom, reported earnings before tax, depreciation and amortisation of $110.8 million, below the $117.6 million of the same period of 2004 and its shares were 3.09 per cent higher at 150 crowns after the figures.
In January 2006, Millicom International said following high number of unsolicited approaches its board of directors decided to conduct a review of strategic options for the company and appointed Morgan Stanley as financial adviser.
“With the sale of Paktel, Millicom telecom operation in Pakistan started in 1990 has become a history as it has already sold out its shares in Instaphone to local partners,” said the source. He said China Mobile was very much interested in Pakistani cellular market and also attempted to get a GSM licence in an open auction in 2003,” he added.
With more than 250 million wireless customer accounts as of last month, China Mobile is by far the world’s biggest wireless carrier and controls about two-thirds of the mobile market in China. “The move may trigger new kind of competition in the merging telecom markets including, Pakistan,” said the source.
“China Mobile has built one of the most extensive national cellular networks in the world, covering all of mainland China and the company’s strategy clearly shows that its target market is Asia and other emerging telecom markets.”
He said though Millicom’s Pakistan operations was not in a very attractive position, still the country offered one of the best business opportunities to telecom operators, as its most of the rural areas were without basic telecom facilities.
“By December 2006, Paktel enjoyed 1.3 million, which ranked the company at fifth in terms of market share among six cellular operators with total 48.50 million cell phone users across the country,” added the source. He said for China Mobile, Pakistan was among emerging markets, which represented a particularly attractive destination for telecom companies as western markets become saturated.
“In many developing nations, including the fixed-line infrastructure is poor and limited in its range, so cellular networks, which are cheaper to roll out than traditional lines, are used as the primary means of communication,” added the source.
China Mobile takes control of Paktel
Asian giant, Millicom sign $284 million agreement
By Imran Ayub
KARACHI: China Mobile is set to enter into Pakistan’s cellular industry, as the Asian telecom giant has reached a $284 million deal with the Luxembourg-based Millicom International to acquire its operations in Pakistan Paktel, one of the six cellular operators in the country.
Sources in telecom said the Millicom International, which operated both AMPS and GSM cellular services through Paktel in Pakistan had formally announced the deal to finally wrap up its more than 15-year operations in the country.
“Millicom International has signed an agreement for the sale of 88.86 per cent shareholding, in Paktel Ltd to China Mobile Communications Corporation,” said a Millicom International statement.
“The transaction implies an enterprise valuation for Paktel Ltd of $460 million. The total cash consideration payable to Millicom as a result of the transaction (including the repayment of inter-company debt) is approximately $284 million.”
It said the completion of the transaction is subject to certain regulatory approvals and procedures and if such requirements were met, conclusion of the deal was expected to occur in late February 2007.
“Now the two parties would formally approach the telecom authorities in Pakistan to get a nod over the deal,” said a source close to the Millicom’s operations in Pakistan. The Millicom authorities in November 2005 announced that they were discussing the sale of one of its Pakistani units.
The same month Millicom, reported earnings before tax, depreciation and amortisation of $110.8 million, below the $117.6 million of the same period of 2004 and its shares were 3.09 per cent higher at 150 crowns after the figures.
In January 2006, Millicom International said following high number of unsolicited approaches its board of directors decided to conduct a review of strategic options for the company and appointed Morgan Stanley as financial adviser.
“With the sale of Paktel, Millicom telecom operation in Pakistan started in 1990 has become a history as it has already sold out its shares in Instaphone to local partners,” said the source. He said China Mobile was very much interested in Pakistani cellular market and also attempted to get a GSM licence in an open auction in 2003,” he added.
With more than 250 million wireless customer accounts as of last month, China Mobile is by far the world’s biggest wireless carrier and controls about two-thirds of the mobile market in China. “The move may trigger new kind of competition in the merging telecom markets including, Pakistan,” said the source.
“China Mobile has built one of the most extensive national cellular networks in the world, covering all of mainland China and the company’s strategy clearly shows that its target market is Asia and other emerging telecom markets.”
He said though Millicom’s Pakistan operations was not in a very attractive position, still the country offered one of the best business opportunities to telecom operators, as its most of the rural areas were without basic telecom facilities.
“By December 2006, Paktel enjoyed 1.3 million, which ranked the company at fifth in terms of market share among six cellular operators with total 48.50 million cell phone users across the country,” added the source. He said for China Mobile, Pakistan was among emerging markets, which represented a particularly attractive destination for telecom companies as western markets become saturated.
“In many developing nations, including the fixed-line infrastructure is poor and limited in its range, so cellular networks, which are cheaper to roll out than traditional lines, are used as the primary means of communication,” added the source.
QUOTE(Hellraiser006 @ Jan 23 2007, 02:17 AM) [snapback]852907[/snapback]
With more than 250 million wireless customer accounts as of last month, China Mobile is by far the world’s biggest wireless carrier and controls about two-thirds of the mobile market in China. “The move may trigger new kind of competition in the merging telecom markets including, Pakistan,” said the source.
Is China mobile government owned company?
QUOTE(MirBadshah @ Jan 24 2007, 08:54 AM) [snapback]853261[/snapback]
Is China mobile government owned company?
China Mobile Communication Corp (CMCC) is 100% state-owned. One of CMCC's subsidaries, China Mobile Ltd., is listed on the Hong Kong Stock Exchange.
CMCC is one of six major state-owned telecom operators in China, the others are China Unicom, China Telecom, China Netcom, China Satcom and China Railcom.
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