Jazz to grab additional 4G spectrum
Jazz ( a VEON subsidiary) is set to grab additional 4G spectrum as it is the only company which is bidding for the (NGMS) spectrum. PTA announced that the bidding for the spectrum will be held on 24 MAY 2017.
The deadline for bidding lapsed yesterday. Surprisingly, no other telecommunication companies such as Telenor and Ufone applied for the bid. The outcome seems pre-determined with Jazz being the only bidder in the run and eventually the most likely winner of 4G spectrum.
Pakistan is the second largest market for this VEON subsidiary and Jazz is all set to shake the local market even further. The spectrum comprises of a 10 MHz paired slot in 1800 MHz.
As Jazz has emerged as the only bidder, PTA holds the right to dismiss this bidding as per law. Jazz will have to pay (USD 295 Million) after getting the spectrum. The company can pay all the sum in one swoop or can also do it with 50% cash and remaining 50% in installments. In addition, Jazz will also have to pay 10% tax to FBR in accordance with the auction winning price.
Jazz took the Pakistani market by storm when it announced merger with another telecommunication brand Warid. In the aftermath of merger, the company has as much as 50 million subscribers. Jazz uses 1800 MHz of Warid for its 4G services after the merger.
Apart from this big news, Jazz has recently partnered with Saavn (digital distributor of English and Bollywood music) to give free music streaming to its users.
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