Dunya Media Group buys 70 percent shares of WorldCall

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Dunya Media Group buys 70 percent shares of WorldCall

In an interesting development, Dunya Media Group has reportedly purchased WorldCall i.e. an OmanTel company. The deal has not been disclosed yet. However, it will be made official within coming days.

As per reports, the agreement between Dunya Media Group and WorldCall has been signed yesterday i.e. 17th February 2016. The exact amount is yet to be disclosed. It is worth mentioning here that OmanTel had bought 70% shares in WorldCall in 2008 for $193 million. 12 percent of shares belongs to Salman Taseer (late) while the remaining 18 percent are floated publicly in Pakistan Stock Exchange. Due to technological flaws and management issues, WorldCall has been in hefty loss for few years now. WorldCall has got various services in Pakistan i.e. cable TV service, EvDO and wireless local loop service

WorldCall is aiming to bid for upcoming DTH license. This move will certainly help Dunya Media Group to grow itself and broaden its services. We will be covering more details regarding this story once it becomes official.

Stay tuned!