Telecom group willing to participate in 5G auction

ISLAMABAD:

Pakistan Telecommunication Company Limited (PTCL) Group is willing to participate in 5G auction, however, it depends on licensing conditions and the auction value, said PTCL Group President and CEO Hatem Bamatraf.

Speaking at a news conference at the PTCL headquarters on Friday, he emphasised that the company would participate in the auction just like other telecom service providers.

He denied rumours that Ufone was in the process of acquiring a telecom company but added that options were always open for businesses.

Without naming any entity, he said “we are looking at the market and currently we are not in the process of conducting mergers or acquisitions but it does not mean that we will not consider an opportunity, if it is available.”

He was responding to questions regarding rumours circulating in market circles that one of the four telecom companies operating in Pakistan was planning to offload its assets and Ufone was vying to buy it to enhance its outreach.

The head of the telecom group did not express much eagerness to enter into the 5G auction process. He said that decision would be made based on market position and the conditions set by the government for the auction.

Bamatraf stressed that the company had planned to strengthen its presence as the only telecom firm that offered a complete range of solutions for digitisation, which included operating a microfinance bank.