Telenor exploring acquisition opportunities, figures among Top 2 in Pakistan
20 Jun 2008
Telenor ASA, the Nordic region's biggest phone company, yesterday said it was actively exploring merger and acquisition opportunities. It however, did not indicate any interest in its Swedish-Finnish rival TeliaSonera.
Telenor, which has relied on eastern Europe and Asia for growth, owns units in Ukraine, Russia, Hungary, Serbia, Montenegro, Pakistan, Malaysia, Bangladesh and Thailand to propel growth outside its region, which has been saturation, also said it's seeking complementary businesses in existing markets.
Telenor is also the second-largest mobile operator in Pakistan, with a subscriber base of 17.84 million
Its Pakistan unit has shown growth and moved up the rankings ladder with a subscriber base of 17.84 million, and a market share of 20.6 ahead of Ufone at 17.80 million. the latest figures released by the Pakistan Telecomunication Authority (PTA) showed.
Telenor Pakistan has a proven track record of successful growth in the mobile business in Pakistan. In January, it announced that its mobile subscriptions had passed the 15-million subscribers mark. Over the last six months, Telenor Pakistan's additions have been 3.24 million against the industry average of 1.63 million, giving Pakistan's leading operator a market share of 33 per cent - the highest in the mobile sector in Pakistan..
"Moving up to second place in Pakistan's mobile industry is a landmark achievement for Telenor Pakistan which is at present the single largest direct European investment in the country, and very well-positioned for further growth. Telenor Pakistan is a vital part of the Telenor Group's Asian strategy. Telenor Pakistan is proud to have contributed to the successful growth and development of telecommunication in Pakistan and the development of a successful company,'' said CEO, Telenor Pakistan, Tore Johnsen.
In 2007, increased competition from international operators continued driving growth, coverage and service development and bringing down end user prices in Pakistan. In order to ensure sustainable growth and remain competitive, local mobile operators are dependent on strong business models and technological expertise. The call rates in Pakistan are currently among the lowest in the world. Pakistan is one of the top ten fastest growing mobile markets in the Asia Pacific region and the latest figures show that the number of cellular subscribers in Pakistan has reached the 86.6 million mark with a cellular mobile density of 53.9.
