In a much-anticipated development, Dunya Media Group has acquired 70% shareholding in WorldCall, the Pakistan subsidiary of Oman Telecommunications Company.
The details of the deal between Dunya Media Group and Omantel will be made in next few days after the approval from the regulatory authorities in Pakistan. It is important to mention here that the deal for 56.8% share that was accounted by the Omantel has been made by the Dunya Media Group and Omantel while rest of the 13.2% are acquired from the share floating in Pakistan Stock Exchange. After the acquisition of 70% shareholding of WorldCall by the Dunya Media Group, the current share position of WorldCall is; 70% by Dunya Media Group, 12% by Former Governor Punjab Salman Taseer (Late) and 18% public shares being floated in PSE.
This will now improve the competitive position of the Dunya Media Group in operating markets as WorldCall is dealing in the market of broadband to wireless broadband, fiber optic network, cable TV, and LDI services. Three main areas of services of WorldCall are data, entertainment and voice that now will be under the control of the Dunya Media Group.
Recent shareholding position of WorldCall