Ooredoo, the Qatar primarily based telecom massive and cent p.c stake holder of wi-tribe Pakistan, has introduced to have completed the sale of wi-tribe to NB Offshore funding Ltd for round USD 9 million or Rs. 940 million.
with out revealing much small print, Ooredoo said that transaction used to be achieved in cash payment that is in keeping with the value of the asset.
Our sources counsel that deal between Ooredo and HB staff — the backers of NB Offshore investment, was once locked almost six months back and lately’s announcement is made simplest after complete takeover through HB workforce with new administration in location.
HB crew is an established entity in Pakistan with experience in telecommunications, actual estate, sector, luxury imports & buying and selling, training, Alternate vitality and customised safety services and products along with others.
HB group is owned through businessman Hassan Bokhari.
After telecom deregulation in UK, Bokhari enjoyed success in the domain of household telecom services and products. He has made investments in telecom sector in Azad Kashmir and Gilgit Baltistan.
HB staff, along with WiMAX industry of wi-tribe, will get firm’s LDI license as neatly. wi-tribe may also collect DTH license that is set to be auctioned in Pakistan in close to future.
in step with PTA, there have been 207,000 WiMAX customers in Pakistan at the finish of December 2015, down from 487,000 simply 18 months in the past.