ARY intends to acquire 51pc stake in World Call Telecom
Karachi- ARY is the leading Media Company of Pakistan, which owns and operates multiple genre TV Channels in the country namely ARY Digital, ARY News, ARY Zindagi, ARY Musik, ARY QTV, HBO and Nickelodeon Pakistan. The Company is also involved in Production, Distribution and Marketing of cinematic films and television productions. ARY Digital Network plans to invest more than $55 million in WTL post-acquisition of majority stake and management control in the Company. 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-centre of technology.”