Telenor Will Invest Over $1 Billion in Pakistan 3G

Jon Fredrik Baksaas, CEO of Telenor

Norwegian telecom group Telenor will invest $1.7 billion in Pakistan after acquiring a 3G spectrum, reports Propakistani. The massive investment, announced by Telenor CEO Jon Fredrik Baksaas at a recent meeting with members of the Pakistan media, should have a large impact on the country; Baksass predicts that it will increase internet penetration and, by extension, the country’s GDP.

This new investment should be a boon especially for rural people who may not have internet access, as $700 million of it is apparently earmarked for spreading 3G networks across the country. Baksaas reportedly said that he expects this rollout to have a greater impact on rural residents than urban residents.

This is not Telenor’s first foray into Pakistan, the company has already invested more than $2 billion there. That shouldn’t come as a large surprise given that the company is one of Pakistan’s largest telecom operators, with more than 30 million subscribers in the country.

(via Propakistani)