Telenor to invest $1 b in Pakistan

OSLO: Norwegian telecom operator Telenor opened its mobile phone network in Pakistan and said it planned to invest $1 billion in the country over six to eight years.

The investment plan was in line with earlier announcements.

"We remain committed to providing coverage to 70 percent of Pakistan's population three years from now," Telenor Chief Executive, Jon Fredrik Baksaas said in a statement.

Pakistan now has six mobile operators, Telenor said.

"Telenor paid $291 million for its Pakistani mobile licence and plans to invest an estimated $1 billion over a period of 6 to 8 years," it said.