PTA Notifies Jazz as the Winner of 4G Spectrum Auction
1 week ago
Pakistan Telecommunication Authority has notified that Jazz is the successful winner of 4G spectrum auction, we have checked with sources.
It may be recalled that Jazz was the only operator to have participated in 4G spectrum auction and hence was qualified as the winner by default and without any bidding.
According to details shared with ProPakistani, PTA has now officially notified Jazz that it has won the spectrum and that the operator should start preparing to submit the spectrum fee within the next 30 days.
Sources told ProPakistani that Jazz will pay 50% of USD 324 million (USD 295 million spectrum fee + USD 29.5 million tax) within the next 30 days while remaining 50% of the payment will be made by January 2018.
According to IM, Jazz had two options for payment i.e to clear all dues (USD 324.5 Million) upfront, or pay 50 percent payment upfront and clear remaining 50 percent in 5 equal annual installments with one year LIBOR plus 3%.
Sources confirmed with ProPakistani that Jazz’s 4G spectrum will be assigned within the 1762.3-1785 / 1857.3-1880 range. Not to mention, Jazz can opt for any specific frequency within the assigned band.
Jazz will be officially awarded the spectrum – in a short ceremony – after the spectrum fee is paid. It will then be able to use the 4G spectrum.
It must be mentioned here that Jazz operates 4G – that it acquired through Warid – in more than 50 cities with more than 1600 cell sites. Jazz’s investment in 4G spectrum indicates that its 4G coverage is likely to grow rapidly during 2017 and beyond.