Paktel

From Wikipedia, the free encyclopedia

Paktel Limited

Type	Private Limited Company
Genre	Subsidiary
Founded	Early 1990s
Headquarters	Islamabad, Pakistan 68-E Jinnah Avenue, Blue Area
Key people
Area served	Pakistan
Industry	Telecommunication
Owner	China Mobile Ltd. (Formerly Millicom)
Slogan	Convenience, Clairty
Website	www.paktel.com

Paktel is a mobile telecommunication company in Pakistan.

It was the first ever company granted license to carry out cellular phone services in Pakistan. It carried out AMPS services until 2004,when the company launched GSM services as well. Its main competitor emerged in late 1990s as Instaphone and soon began to dominate the market. However after the launch and rapid success of Mobilink in 1998, both services lost market share. In 2003, Millicom Corporation, owners of Instaphone, bought Paktel as well.

New Identiy: Dil To Eik Hai

1 Sale to China Mobile
2 See also
3 References
4 External links

[edit] Sale to China Mobile

Millicom International Cellular S.A. on Sunday, 22nd January 2007, said it will sell its 88.86 percent stake in Paktel Ltd. to China Mobile Communications Corp. for $284 million, which includes the repayment of intercompany debt. The sale implies an enterprise value for Paktel of $460 million, Millicom said in its press release.

Moreover, PTA (Pakistan Telecommunication Authority) has announced that it may resolve the frequency issue with China Mobile, as it was one of the main reason for pullout by Millicom International Cellular S.A.