Zong, a subsidiary of China Mobile, will pay $516 million in one tranche on account of licence fee for two next-generation spectrums, confirmed the company’s Chairman and Chief Executive Officer (CEO) Fan Yunjun.
“This is a moment of pride as consumers will now have access to the most advanced telecom technology and this is our chance to prove ourselves as the ‘Indispensable Digital Life Partner for Life’ for every Pakistani,” the Zong chairman said.
CMPAK Limited, better known as Zong, bid the highest – $306.9 million – for a 3G licence in the 10MHz band, making it eligible for a 4G licence at the base price of $210 million. The base price for 3G was set at $295 million. Of the total $1.112 billion earned by the government, Zong paid $516.92 million for the two licences.