Warid Being Approached By Telecom Investors

[Azfar Baig]

According to market sources, Warid Telecom (owned by Abu Dhabi Group), Pakistan's third largest mobile phone operator, is in talks with several foreign firms, including Singapore Telecommunications (Singtel), to sell a minority stake.

Sources added "Warid has been approached by several international telecom companies over the last six or eight months, including those from the Far East, the Middle East and Europe, but no final decision has been taken as yet," It is believed that the picture will become clear by July or August. There is also no confirmed reports about how much the deal could be worth.

Sources indicate that the companies in talks with Warid includes Singtel, Britain's Vodafone Group and Kuwait's Mobile Telecommunications Co. (MTC). However there are also reports of Warid not willing to sell a controlling stake, or to give up its brand.

 

Azfar Baig

[Arif H]

SingTel already owns around 30% of Warid (bought it last year for around $750m)…

[Shaheer Khan]

Wait a sec, isn't Singtel already own a part of Warid?

Isn't this news months old? When (and the source of the news) did this
happen?

[Asif Hanafi]

yes its definatly old... warid is now pakistans 4th largest operator, not 3rd.

[Majid Farid]

And it has grown out of Pakistan they have GSM services in

Bangladesh
Congo
Uganda
Ivory Coast is coming up
Georgia (Wimax) is coming up

Rgds,

/Majid

On Apr 23, 10:37 am, "Asif Hanafi" <asifhan...@gmail.com> wrote:
> yes its definatly old... warid is now pakistans 4th largest operator, not
> 3rd.
>

> On Wed, Apr 23, 2008 at 11:17 AM, Shaheer Khan <shaheer.a.k...@gmail.com>