Tow Pakistan Wireless ISPs to Merge
Published on: 6th Dec 2013
By: Ian Mansfield
Two of Pakistan's wireless internet providers Wateen Telecom and Qubee are to merge it has been announced. Following the merger they plan to invest US$25 million expanding their combined networks.
Abu Dhabi Group, the majority shareholder of Wateen Telecom, and New Silk Route Private Equity Asia Fund, the majority shareholder of Qubee made the merge announcement earlier this week.
If the merger is approved by the regulators, then the combined company will have over 200,000 customers, and would be second placed in the market behind PTCL.
Once completed, New Silk Route will own 51% of the company, with the Abu Dhabi Group holding the remainder.
"The new company will be a joint venture between the two companies and Wateen will transfer all its subscribers to New Silk Route, which will form the new company," a Wateen official said.
Another wireless broadband operator, Mobilink, has already transferred its subscribers to New Silk Route.
The networks which started as WiMAX operators are planning to migrate to LTE services.