Telecard’s New Venture Attracts $17m

The News is reporting that Telecard has finalized a new venture focused on Value Added Services for which an International Consortium (members of which remain unnamed) will be investing around $17 million for a majority stake in the new venture. For a quick recap of recent mergers and acquisitions in the Pakistani Telecom market: Etisalat bought majority minority (Thanks Ashar) stakes in PTCL in 2005 for $2.6B, Singtel recently bought 30% of Warid Telecom for $758 million, Omantel bought Worldcall’s majority stakes for $156 million, and Qtel bought 75% of Burraq for $12.3 million. Full story is here.