Egypt’s Global Telecom Holding S.A.E (GTH) (GTHE.CA on EGX) announces that Mobilink, its wholly owned Pakistani subsidiary, is officially one of the winners of the 3G spectrum auction, conducted by the Pakistan Telecommunication Authority (“PTA”) at a formal ceremony held on April 23, 2014. Under the terms of the auction, Mobilink won 2×10 MHz spectrum at 2100 MHz band. Total price for the spectrum is USD 300.9 million. The license shall be valid for 15 years.
Ahmed Abou Doma, Global Telecom’s CEO commented: “The awarding of the 3G spectrum license paves the way to launch 3G services in Pakistan during 2014 and solidifies both our commitments to the Pakistani market as well as our commitment to maintain Mobilink’s market leadership position. Global Telecom is proud to be a part of this milestone, which will enable Mobilink’s customers to experience unique and innovative services that rely on high speed data connectivity”.