Government cancels mobile licence

29 Apr 2004

Pakistan’s telecoms regulator has cancelled a mobile phone licence issued to domestic-led consortium Space Telecom after it missed a payment deadline. The company won the licence earlier this month, agreeing to pay a total of USD291 million, but has failed to make the 25% down payment due to a dispute between shareholders. The concession has now been offered to the next highest bidder, Dubai-based company Al-Warid, which has agreed to match Space’s offer.