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    941   HK0941009539

CHINA MOBILE LIMITED

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Ufone telecom wins unused Pakistan's spectrum

09/10/2021 | 11:42am EDT

ISLAMABAD (Reuters) - Cellular company Ufone on Friday won a bid for Pakistan's unused spectrum with $279 million, said the country's telecom authority.

Pakistan Telecom Authority (PTA) started the process to sell the unused spectrum late last year.

The spectrum is in the 1800 and 2100 MHz bands typically used by operators for 4G LTE (long-term evolution) networks that offer faster video streaming and internet downloads.

"Total Spectrum won by Ufone is 9 MHz in 1800 MHz band which is 70.3 percent of the total offered spectrum in the said band during the current auction," the PTA said in a statement.

The addition will boost Ufone spectrum holdings from 6 MHz to 15 MHz in 1800 MHz band, enhancing quality and increasing coverage for voice and data services, it added.

Pakistan has nearly 100 million 3G/4G subscribers, and the new spectrum known as Next Generation Mobile Services (NGMS) is seen a precursor to any 5G launch.

The Pakistan telecom market is dominated by Jazz, backed by Netherlands-based Veon Ltd; Telenor Pakistan, backed by Norway's state-controlled Telenor; Zong, owned by China Mobile; and Ufone, which is controlled by state-owned Pakistan Telecommunication Company Ltd.

(Reporting by Asif Shahzad; Editing by Richard Chang)

By Asif Shahzad


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED -0.10% 48.95 End-of-day quote.10.75%
PAKISTAN TELECOMMUNICATION COMPANY LIMITED 0.22% 9.1 End-of-day quote.0.00%
TELENOR ASA 0.91% 138.4 Real-time Quote.-5.14%
VEON LTD. -0.21% 1.916 Real-time Quote.47.84%
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Financials
Sales 2021 844 B 132 B 132 B
Net income 2021 115 B 17 989 M 17 989 M
Net cash 2021 382 B 59 796 M 59 796 M
P/E ratio 2021 7,22x
Yield 2021 7,39%
Capitalization 823 B 129 B 129 B
EV / Sales 2021 0,52x
EV / Sales 2022 0,45x
Nbr of Employees 446 898
Free-Float 27,3%
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Mean consensus BUY
Number of Analysts 20
Last Close Price 40,20 CNY
Average target price 62,98 CNY
Spread / Average Target 56,7%
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Managers and Directors
Xin Dong Chief Executive Officer & Executive Director
Rong Hua Li Chief Financial Officer & Executive Director
Jie Yang Chairman
Mo Chi Cheng Independent Non-Executive Director
Man Yiu Chow Independent Non-Executive Director
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