VEON's Jazz Gains Spectrum in Pakistan
VEON announced that its largest market, Pakistan, almost tripled mobile spectrum after auction. VEON's subsidiary Jazz secured the largest allocation with 190 MHz.
The spectrum auction in Pakistan concluded today, with Jazz securing 190 MHz of the 480 MHz of 5G spectrum sold for $507 million. The auction increased available mobile spectrum from 274 MHz to 754 MHz. The Pakistan Telecommunication Authority (PTA) oversaw the auction, which also saw participation from Zong and Ufone. Jazz will pay approximately $239.5 million (PKR equivalent) for its share, starting in 2027. This acquisition strengthens Jazz's market position in Pakistan, where it holds a 36.6% market share with 74.2 million customers. Jazz's CEO, Aamir Hafeez Ibrahim, has an 87% approval rating. The additional spectrum will support faster broadband and next-generation digital services across Pakistan. 5G services are expected to roll out initially in major cities like Islamabad, Lahore, and Karachi. The government plans to add roughly 3,000 new network sites annually to support the 5G expansion. Jazz is owned by VEON, a multinational telecommunications company headquartered in Dubai. VEON's other brands include Beeline, Kyivstar and Banglalink. VEON reported revenues of $3.7 billion in 2023.
