ARY Network to invest over $55 million in World Call Telecom post-acquisition of majority stake

News Image

By MG News | November 04, 2019 at 05:43 PM GMT+05:00

0:00

November 4, 2019 (MLN): ARY Digital Network is planning to invest more than US $55 million in World-Call Telecom Limited (WTL), post-acquisition of majority stake and management control in the Company.

According to Gulf News, the primary focus of investment will be CAPEX based network investments and fiber upgradation to bring WTL back as market leaders in media operations. Moreover, this acquisition will add to the “Foreign Direct Investment” (FDI) in the country and also create new employment opportunities.

On this occasion Mr. Salman Iqbal said “Our target is to achieve at least a million subscribers in the metropolitan cities of Pakistan by providing customers with state-of-the-art technologies in Pakistan procured globally with unmatched customer services. We are confident that through this acquisition, this investment by ARY in the telecom space will help Pakistan solidify its existing foot print in the telecom sector and will enable it to become the regional epi-center of technology.”

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,930.00 108,430.00
105,440.00
2180.00
2.06%
BRENT CRUDE 67.86 68.10
66.94
0.75
1.12%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
109.20
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.20 66.43
65.23
0.75
1.15%
SUGAR #11 WORLD 15.73 15.97
15.71
0.03
0.19%

Chart of the Day


Latest News
July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom


July 02, 2025 at 05:01 PM GMT+05:00

Gold price in Pakistan falls Rs600 per tola


July 02, 2025 at 04:35 PM GMT+05:00

Oil gains slightly as market eyes Iran, OPEC+ moves


July 02, 2025 at 04:02 PM GMT+05:00

PSX Closing Bell: Record Breaker



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg