Pakistan Raises $1.13 Billion in Auction for 3G, 4G Spectrum
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Pakistan raised $1.13 billion in an auction of licenses to run third- and fourth-generation mobile-phone networks that will help boost the country’s foreign reserves in an economy hit by energy shortages.
Pakistan Telecommunication Authority, or PTA, sold 3G licenses to four existing operators -- the Pakistan unit of China Mobile Ltd., Pakistan Mobile Communications Ltd.’s Mobilink, Telenor ASA’s local subsidiary and Ufone of Pakistan Telecommunication Co. -- Finance Minister Ishaq Dar announced at a press conference after the auction held in Islamabad. China Mobile also won a 4G license.