Engro Connect buys Jazz-owned towers in $560 million deal

ISLAMABAD: In a first-of-its-kind move, Engro Connect has acquired all 10,500 telecom towers owned and managed by Jazz.

After obtaining approvals from relevant regulators, including the Competition Commission of Pakistan, and clearing all cases in the Islamabad High Court, the $560 million deal has materialised.

Jazz, the largest telecom operator in the country, has become the first telecom to offload all of its telecom towers. Deodar, the cell-site tower management subsidiary of Jazz, has been sold to Engro Connect.