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Telenor to Pakistan

The Norwegian telecom giant is investing heavily to become the largest cell phone carrier in Pakistan, something that means the company needs to sign on ten million customers.

Tore Johnsen is the man in charge of Telenor’s latest endeavor in the political unstable Pakistan, reported the Norwegian daily Aftenposten.

The investment in Pakistan will be the largest international investment for the company in the years to come. A total of NOK 7 billion (USD 1.04 billion) will be invested in a new network in the large Muslim country.

Today only 3.4 million of Pakistan’s population of 150 million has cell phones, but it is estimated that in only six to eight years the number will increased to 25 to 30 million people.

Telenor’s investment in Pakistan will make the Norwegian telecom company one of the largest Western investors in the country. CEO Jon Fredrik Baksaas has already been forced to explain the investment to American stockholders who are skeptical to investing so much money in a Muslim country.

According to Aftenposten, since the first investment in the Hungarian Pannon in 1993, Telenor has invested NOK 60 billion (USD 8.9 billion) in international cell phone companies. Telenor is now considering new investments in countries like India and Vietnam.

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