VEON and Engro Corporation Advance to Closing Pioneering Infrastructure Partnership in Pakistan Following Regulatory Approvals

Under the agreement, VEON's infrastructure assets housed under Deodar (Private) Limited, wholly owned by VEON through its subsidiary Pakistan Mobile Communications Limited, will vest into Engro Connect, an Engro Corp's subsidiary, via a scheme of arrangement. The companies have secured the necessary regulatory approvals, including from the Competition Commission of Pakistan, the Pakistan Telecommunication Authority, and the Islamabad High Court. The scheme of arrangement and related settlements are expected ...