Veon to buy remaining shares in Jazz for 100pc ownership

Veon, a leading global provider of connectivity and internet services, has announced that its partner in Pakistan, the Dhabi Group, has exercised its put option to sell Veon its 15pc shareholding in Pakistan Mobile Communications Limited (PMCL), the operating company of leading mobile operator, Jazz.

The transaction, which requires independent valuation to determine the fair value of the shareholding, is expected to close in the fourth quarter of 2020. Once completed, Veon will own 100pc of PMCL and achieve full beneficial ownership of Jazz, allowing it to simplify and streamline governance over its Pakistani assets, as well as capture the full value of dividends paid by PMCL.

The ‘put option’ is presently reflected in Veon Group’s accounts as a liability over a non-controlling interest, the value of which is reappraised on a quarterly basis.

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15 COMMENTS

  1. This Netherland based company had already uncontribute on keeping up with the legacy of Jazz being the worst operator when it comes to quality!!!

    Worst services ever!!!

  2. Shouldn’t say worst but not up to the mark. Warid network was best in Pakistan before take over by Jazz. Now it’s just like other networks. Not perfect anymore.

  3. Having been a Jazz customer for the last 25 years.. I can say their services are below par now. Not the Jazz Mobilink I knew!

  4. Dear Jazz
    Jazz Customer for the last 25 Years
    In Peshawer very Bad Serviceses
    Specailly deductiv Charges
    Peshawer Many Jazz Customers Mnp Convert to the Zong Network
    WhatsApp Just 40 Ruppes Month
    Call Charges very low

  5. Now jazz have only one package per minute and call rate is very high.
    Jazz change Rs1/30sec pack Rs. 3/60sec without any information

  6. PMCL has now become a company full of incompetence and thugs to say the least. With pathetic cellular services, etc. Looters and cheaters guzzling it. If Veon wants to maintain its standards and values, then it should completely disassociate itself immediately from Jazz – PMCL.

  7. I hate Mobilink and Warid after merging and changing their name to Jazz. Also Warid services are very Superior Quality Services before merging. Also Mobilink services are also very low graded after merging and name changing. I am the customer of Mobilink from 2009 and Warid from 2012. But after merging and name changing to Jazz both networks quality are very degraded now. Now I think it’s time to kick of both networks from Pakistan. Especially this type of low graded brand Jazz. Also with it’s owner VEON.

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