Jazz is the only bidder for the auction of next generation mobile 4G spectrum.
Jazz network is the only bidder for the next generation 4G spectrum(NGMS) in the auction.
Jazz is one of the largest telecom networks in Pakistan. They provide the best network services in the country. According to the sources, Jazz is the only network bidder for the auction of next generation Mobile spectrum 4G. Jazz company will get the next generation spectrum at $295 million price.
According to the other telecom network companies including, Ufone, Telenor, Zong are not participating in the next generation mobile spectrum 4G auction. Pakistan Telecommunication Authority (PTA) had announced the next generation spectrum auction in May 2017. The submission of participating date was 17th May 2017. Jazz is the only company submit the application for the auction.
The Jazz network company participating in the auction for the next generation spectrum, they hold the spectrum for a future. Because the Warid spectrum will be expired in 2019. Ufone also will not participate in the auction for bid.
Accoridng to the Pakistan Telecommunication Authority(PTA), they recieved only one application till 17th May 2017. They also mentioned the bid was placed by Jazz. PTA also cleared that the Jazz company met all the required conditions they will bid the spectrum successfuly.
If the Jazz bid successfully, they will have the option for payment, pay $295 million upfront or 50 percent payment upfront and remaining 50 percent payment in 5 annual installments with 3 percent LIBOR plus. The successful bidder also pay 10 percent to the FBR its around $29.5 million. It’s third auction since 2014 and they eared for the national exhanger through auctions of spectrums $1.98 billion.