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.

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4 Responses to “Telecard’s New Venture Attracts $17m”

  1. Ashar Says:

    correction: Etisalat bought a minority stake, but got management control.

  2. NM Says:

    There is a difference in the story that appeared in print in the NEWS and what appeared on line. there is difefrent views while the author is the same.

  3. sarmadsworld Says:

    wow … thats alot of revenue …

  4. Alqntvxl Says:

    LKIObn comment4 ,


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