A business group from the United Arab Emirates, Hamad Bin Khalifa Departments of Projects (HBK DOP) are interested in acquiring a ‘majority stake’ in Wi-tribe, which is one of the largest independent broadband providers, reported Arab News.

Until early 2016, Wi-tribe was owned by Qatar Telecom when it was bought by the Pakistani group HB International Investments, a business conglomerate with diverse interests, particularly in the fields of telecommunications and information technology. Wi-tribe has main offices in Islamabad, Lahore and Karachi.

Chairman of the Arab Investment Development Authority (AIDA) and HBK Holdings, Sheikh Hamad bin Khalifa Al Nahyan, said,

“Wi-tribe investment opportunity provides HBK a footprint into Pakistan Telecom’s space as a firm foundation to consolidate the ongoing investment interest for the telecom infrastructure acquisition.

The report quoted Haris Hasan Khan, CEO of Emergent Telecommunications, a project arm of HB International Investments. He told the news agency that the deal was not yet finalized but HBKDOP had shown interest in buying majority stakes.

The post UAE Group in Discussions to Buy Majority Stakes in Wi-tribe Pakistan: Report appeared first on .

Originally Published on ProPakistani.com

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