Pakistan, June 8 -- Engro Connect has completed a landmark $560 million deal to buy all 10,500 telecom towers owned and operated by Jazz. This is the first time in Pakistan's history that a telecom operator has sold its entire tower infrastructure. The deal was finalized after approval from regulatory bodies, including the Competition Commission of Pakistan, and resolving all court cases in Islamabad High Court.

Jazz, Pakistan's largest telecom operator, will now pay rent to Engro Connect, a subsidiary of Engro Corporation, to use the cell sites installed on these towers. The sale allows Jazz to focus more on digital services such as fintech, cloud, entertainment, and digital health, while Engro Connect manages the tower infrastructure....