President and CEO ARY Digital Network Salam Iqbal said in a statement that “ARY Digital Network plans to invest more than US $55 million in WTL post acquisition of majority stake and management control in the Company”.
ARY Communications Limited and ARY Digital FZ LLC publicly announced about the aim to obtain 51% stake and management control in World Call Telecom Limited (WTL).
WTL is a Pakistani telecommunication and multimedia service provider which is a subsidiary of Omani company Omantel based in Lahore, Pakistan.
ARY Digital Network is a Dubai based Pakistan’s prominent media company that caters to South Asian viewers globally through its TV Channels. The Company is also engaged in business of Broadcast and Production Support services for films, television and radio.
He added the primary focus of investment would be CAPEX based network investments and fiber up gradation to bring WTL back as market leaders in media operations.
Our target is to reach at least a million subscribers in the metropolitan cities of Pakistan by providing customers with state-of-the-art technologies obtained globally with unmatched customer services.
He further said that this achievement would add to the foreign direct investment (FDI) to Pakistan and also create new employment opportunities.
We are confident that through this acquisition, this investment by ARY in the telecom space will help Pakistan solidify its existing foot print in the telecom sector and will enable it to become the regional epi-centre of technology.”