In a strategic leap that could redefine the future of digital connectivity in Pakistan, Engro Holdings Limited has reached the final chapter of its landmark deal with Pakistan Mobile Communications Limited (Jazz). With all hurdles now cleared, including approvals from the Competition Commission of Pakistan (CCP), the Pakistan Telecommunication Authority (PTA), Securities and Exchange Commission of Pakistan (SECP) and a green light from the Islamabad High Court (IHC), the long-anticipated transfer of Jazz’s tower business is now a done deal. The transaction will formally take effect on June 3, 2025.
At the heart of this milestone is Deodar (Private) Limited, Jazz’s tower infrastructure subsidiary, which owns and manages 10,500 telecom towers across the country. These critical network assets will now come under the wing of Engro Connect (Private) Limited, a fully owned arm of Engro Corporation, through a court-approved merger structure. However, this deal of Jazz with Engro Connect for Deodar is not the first one but the third of its kind, where two similar negotiations failed with Edotco and the TPL-TASC consortium. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
