China Mobile buys Paktel, begins quest for world domination
Vodafone might be the more globally recognizable mobile mega-conglomerate of the two, but if China Mobile has anything to say about it, that's all about to change. The world's largest carrier (Voda weighs in at number two) -- which has historically built its hefty subscriber base in its domestic market -- has made a bold move beyond Chinese borders by purchasing 88.9 percent of Pakistan's Paktel from Millicom International Cellular for a stiff $284 million in cash. Granted, Pakistan isn't any closer to home than China, but if this acquisition-happy philosophy eventually finds its way to the States and ends up scoring us an Amoi, we say "bring it on."[Via The Wireless Report]
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Reader Comments (Page 1 of 1)
Munk @ Jan 30th 2007 12:27AM
I really dont see the point to this.
Paktel is the 4th best carrier - at best!.
It was originally a TDMA opperator & GSM is the popular choice in these parts, Cable & Wireless threw in the towel & the company ended up with Millicom.
They got a GSM license in 2003-2004, somewhat dubiously, (Telenor paid $300 Million for their's,while the general belief is that Paktel got a fraction of that cost - since they were already in the market).
With 3 other carriers offering much better services at competetive prices, I cannot see how China Mobile can make money off of a company that has a small user base, poor coverage, basic and unreliable service etc.
Seeing that they paid $284 Mill, when only a GSM license costs $300 Mill, it seemed like a bargain to them for expanding the company portfolio outside the mainland.
Noman Kamal @ May 5th 2007 1:19PM
paktel gsm is very bad cell phone service provider in pakistan lets see the china telecom's way to make it best cell phone company in pakistan and how they will do.
mohsin baig @ Jul 2nd 2007 7:25AM
To all,
dear competition exists everywhere & in every field even in every walk of life ,so it doesn't mean that u just quit.new attractive offers , low rates ,good quality service.might make Paktel a more famous than others.
the thing is that they must compromise first as much they can do.obviously the future belongs to them.
so where is a will ,there is a way.
thankx,
mohsin Baig.
B.E(Telecom)