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Business Recorder
24-05-2025
- Business
- Business Recorder
Strategic partnership with ‘Engro Corp': Jazz secures all regulatory approvals
ISLAMABAD: Jazz has announced that it has secured all regulatory approvals for its strategic partnership with Engro Corporation Limited ('Engro Corp') for the pooling and management of telecommunications infrastructure assets in Pakistan. The partnership, initially announced on December 5, 2024, is expected to enhance the efficiency of infrastructure and digital investments in the country, in line with Pakistan's digital ambitions. Under the agreement, Jazz's infrastructure assets, managed through its wholly owned subsidiary Deodar (Private) Limited ("Deodar"), will vest into Engro Connect through a court-sanctioned scheme of arrangement. Regulatory approvals have been obtained from the Competition Commission of Pakistan (CCP), the Pakistan Telecommunication Authority (PTA), and the Islamabad High Court. Completion of the transaction is expected in June 2025. Aamir Ibrahim, CEO of Jazz, commented: "I am pleased to note that we are now progressing to closing our pioneering infrastructure partnership with Engro Corp. This marks a significant milestone in our Service Co transformation. We will continue delivering world-class digital solutions empowering millions of Pakistanis in an asset-light model, while collaborating with Engro Corp, a trusted leader, for the infrastructure layer.' Abdul Samad Dawood, CEO of Engro Holdings, added: "Prosperity and progress increasingly rely on technology and connectivity – and with this milestone, Engro strengthens its role as an enabler of Pakistan's progress. This investment reinforces telecom infrastructure as a key vertical for us and we are keen on expanding access, empowering communities, and future-proofing the infrastructure that will drive growth for generations to come. This is a special moment for all of us at Engro, as this is what we have always stood for: Enabling Growth." As this strategic partnership nears completion, Jazz will continue to lease Deodar's infrastructure under a long-term agreement, ensuring uninterrupted nationwide connectivity and service for its users. This milestone enables Jazz to fully focus on its ServiceCo vision—scaling digital platforms like JazzCash, Tamasha, SIMOSA, FikrFree, Garaj, and GameNow that serve over 100 million Pakistanis. Copyright Business Recorder, 2025
Business Recorder
24-05-2025
- Business
- Business Recorder
Engro approves partnership with Jazz to expand telecom infrastructure
KARACHI: Engro Holdings Limited has announced that Engro Corporation Limited has secured all approvals for its strategic partnership with Pakistan Mobile Communications Limited ('Jazz') and its parent company, VEON Group to expand telecom infrastructure, paving the way for Pakistan's digital future. With this approval and through a Scheme of Arrangement, Jazz's shareholding in Deodar (Private) Limited, which houses its telecom infrastructure assets, will vest with Engro Connect (Private) Limited, a subsidiary of Engro Corporation. In line with previous disclosures, this amalgamation marks a significant private-sector investment in Pakistan, and with all approvals secured, millions of Pakistanis are now poised to benefit from the efficiencies of shared infrastructure. By accessing Engro's combined portfolio of over 14,000 towers, all Mobile Network Operators (MNOs) will have equal access to a high-quality, nationwide infrastructure platform. This will enable them to reduce capital and operating expenditures, focus on enhancing service quality, and pass cost efficiencies onto customers, helping millions more Pakistanis come online. As demand and technology continue to evolve, Engro's extensive tower platform is also well-positioned to support future innovations. Around the world, telecom towers are already being used for more than just mobile signals from powering smart cities to strengthening community infrastructure. Beyond today's connectivity needs, Engro is preparing for tomorrow's possibilities, reaffirming our commitment to Pakistan's economic development and to its enduring promise as a land of opportunity and resilience. Pakistan is standing at the threshold of a digital future, where financial inclusion takes off, start-ups can emerge from any corner, students can learn from global classrooms, and families can access healthcare remotely. This is a moment of shared progress and a reflection of the fact that Pakistan has a powerful growth story to tell. On this development, Chairman of Engro, Hussain Dawood, has said that this investment further reinforces commitment to this great nation, where we believe in investing in connectivity which is the foundation of our digital future. It gives our people the empowerment, enablement, and environment to take control of their lives and thrive, he added. CEO of Engro Holdings, Abdul Samad Dawood, remarked, 'Prosperity and progress increasingly rely on technology and connectivity and with this milestone, Engro strengthens its role as an enabler of Pakistan's progress. This investment reinforces telecom infrastructure as a key vertical for us and we are keen on expanding access, empowering communities, and future proofing the infrastructure that will drive growth for generations to come, he added. President and CEO of Engro Corporation, Ahsan Zafar Syed has said that venturing into this sector in 2018 was a bold leap for Engro into uncharted territory. But this achievement is a testament to what belief, partnership, and perseverance can deliver made possible by the dedication of our teams. Copyright Business Recorder, 2025
