{"id":221560,"date":"2021-03-22T17:35:42","date_gmt":"2021-03-22T17:35:42","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=312993"},"modified":"2021-03-22T17:35:42","modified_gmt":"2021-03-22T17:35:42","slug":"veon-tunes-up-jazz-stake","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2021\/03\/22\/veon-tunes-up-jazz-stake\/","title":{"rendered":"Veon tunes-up Jazz stake"},"content":{"rendered":"

<\/p>\n

\tVeon boosted its holdings in Pakistan after completing a deal to acquire an outstanding 15 per cent stake in\u00a0Pakistan Mobile Communications, which operates the Jazz brand.<\/p>\n

The deal, worth $273 million, gives Veon a 100 per cent stake in the company. In a statement, it said the acquisition \u201cstreamlines\u201d governance over its Pakistani assets and will enable it to capture the full value of \u201cthis growing business\u201d.<\/p>\n

Veon struck the deal after the owner of the 15 per cent stake, the Abu Dhabi Group, exercised its option to sell its holding in September 2020.<\/p>\n

Pakistan is a key market for Amsterdam-headquartered Veon, with the company pushing financial services through its JazzCash offering, as fintech is a major strategic pillar of its wider digital-based strategy.<\/p>\n

Sergi Herrero, Veon co-CEO, said Jazz had an \u201cabundance of growth opportunities as it customers embrace our marketing leading 4G and digital services\u201d.<\/p>\n

GSMA Intelligence estimates for Q1 2021 ranked Jazz as the clear market leader with 67.1 million mobile connections, with Telenor Pakistan the closest competitor with 47.8 million.<\/p>\n\n

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Veon boosted its holdings in Pakistan after completing a deal to acquire an outstanding 15 …<\/p>\n

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