Home > Uncategorized > Axiata’s Announcement creates vibes

Axiata’s Announcement creates vibes

Axiata owns 89% share in Multinet. Recently they have announce their planned exit from Pakistani market by selling the stakes to Andan Asdar –  presently heading the Company.

But this is not it …..

Sources say that this could lead to a consortium by different business groups interested in extending their investment in internet business. There have been talks of consolidation for quite some time now however the industry is yet to see any major announcement when it comes to internet industry in Pakistan. Even the cellcos are also struggling – while telenor-Warid deal is almost dead now, rumors of Mobilink & Warid going to reach a consensus on share holding are hot.

If there is any truth in this consortium, i think we are going to see the emergence of a major fiber optics operator with the name of Multinet – acquiring or partnering with companies like Nayatel, Worldcall and Cybernet which are there for quite some time as regional players however failed to expand much.

If this happens i am sure it will be good for both the industry and users.

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