Hatem Bamatraf, President and Group Chief Executive Officer (CEO) PTCL and Ufone on Friday rejected market rumors of any merger or acquisition talks in the Pakistani telecom market.
“There is no ongoing discussion happening as of right now, but we actively look at any potential opportunities”, said the president and Group CEO.
Hatem further added that the PTCL group has a dedicated Merger and Acquisition division that is always on the lookout for M&A opportunities in wireless, cellular, broadband, banking, or any other segment.
“We are continuously looking for market and if there would be any assets or a company that we believe will add value to the overall group then of course yes we would go for it”, he added.
Replying to media queries after announcing PTCL Group annual financial results for the year 2021 after the Board of Directors’ meeting, the CEO and President of the Group said that the prerequisites for 5G success in the market are the amount of spectrum and the terms at which it will be released by the Pakistan Telecommunication Authority (PTA).
“We will participate in the 5G spectrum auction. It all depends on the conditions of the auction. If the terms or conditions of the auction are making sense for us from a business point of view then definitely, of course, we would like to be the most innovative company in this market and we will jump into the new technologies as long as it makes the business case”,
Nadeem Khan, Chief Financial Officer PTCL Group, while sharing the financial results said that the Group revenue increased by 6 percent from Rs. 129.422 billion in 2020 to Rs. 137.625 billion in 2021.
The CFO outlined that the YoY revenue growth for the group was highest since 2013. He pointed out that the growth patterns will be sustained as its outcome of PTCL’s investment in network, media, and spectrum, which is now bearing fruits.
Nadeem claimed that PTCL’s FTTH segment remained the top performer in the country, as compared to any other company, with respect to new additions.
