Telenor to buy Pakistan’s Warid Telecom?
By Dusan Belic on Thursday, November 19th, 2009 at 12:10 AM PST In General, Rumors
It is being reported that Telenor is mulling acquisition of Pakistan’s Warid Telecom for around $1.3 billion. If this proves true and Norway-based company succeeds, it will leave the Dhabi Group with 7% of Warid, while other 30% will stay with Singtel.
According to Pro Pakistani, the talks went through in a smooth way, with Telenor agreeing to paying the value that was pretty acceptable for Dhabi Group.
Pakistan telecom market includes 5 big players: Moblink with just over 28 million customers, Telenor and Ufone with just under 20 million customers, Warid Telecom with around 17 million, and China Mobile (NYSE: CHL)-owned Zong with with just under 6 million customers.
And for the record, China Mobile had previously tried to buy out Warid Telecom but reportedly failed to reach an agreement on the price…
[Via: CellularNews]
