Warid Being Approached by Telecom Investors

Telecom industry news, Information Technology (IT), ICT, WLL, GSM, 3G, CDMA, WiMAX, Wi-Fi, LDI, termination, switches, technology, software, services sector, product development, Pakistan, UAE, India, Bahrain, Oman, Saudi Arabia, Middle East, Kuwait, Iraq, Africa, High-tech, Emerging markets

Your trusted source for technology (IT & Telecom) insight, news,
analysis, reports, articles and more

World Tech News & Analysis | Pakistan Tech News | Middle East Tech News | Asia Tech News | Africa Tech News

May 27, 2007| (Middle East Telecom Monitoring Desk)

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.

Warid is owned by the private Abu Dhabi Group, which is one of the largest foreign investor groups in Pakistan and also owns Bank Alfalah Ltd. and Wateen Telecom. It also has a stake in United Bank Ltd. Warid Telecom started operations in 2005 and has around 10 million customers in Pakistan -- a market share of roughly 17 percent.

Recently, China Mobile Communications Corp., the world's largest cellular carrier, acquired Paktel - Pakistan's cellular company. Beijing-based China Mobile bought an 89 percent stake in Paktel, now known as CM PAK, from Millicom International Cellular S.A., a Luxembourg-based company that operates in emerging markets.

Apart from Warid and CM PAK, the other players in cellular industry of Pakistan are Mobilink, a unit of Egypt-based Orascom Telecom, Norway's Telenor, Ufone, a subsidiary of Pakistan Telecommunication Co. Ltd., and Instaphone.

Keywords: Pakistan Telecommunication companies, Warid Telecom, CM Pak, China Mobile Communications Corp, Orascom Telecom, Instaphone, Ufone, Mobilink, Telenor