[Update] Telecom Deal Chatter: Telenor May Buy 63% of Warid Telecom
Telecom industry insiders reported today that Telenor is interested in buying majority (63%) of Warid Telecom. The news has not been confirmed by Telenor or Warid yet. Warid Telecom is currently owned by Abu Dhabi Group and Singapore Telecom (SingTel).
If this deal goes through, it would be a significant development for Pakistan telecom industry. On one hand this kind of chatter or rumors show that Pakistan telecom has reached second stage of maturity where consolidation and deal making has started. On the other hand it ushers a new era of competition. Giants like China Mobile (Zong) were in talks to buy Telenor at one time as well. Also at one time speculations were high of complete takeover of Warid Telecom by SingTel.
It merits mentioning here that telenor is near to launch operations in India along with Unitech under brand name Uninor and if the Telenor-Warid deal gets confirmed, Telenor will be the largest mobile network operator in Pakistan. We will keep you posted as the details of this deal emerge.
Update: Warid Telecom gives official stance on media rumor of merger with Telenor.
Warid Telecom (Pvt.) Ltd. is a leading telecom company in Pakistan that is recognized as the most reliable and steadfast telecom operator. Warid Telecom has issued an official statement in response to the rumor on ‘Warid Telecom Merger’. The statement endorses the un-authenticity of the news circulated in the media and it explains clearly that no such information is issued by the company Management. Warid Telecom is a responsible organization that always keep the public update on any developments.
- Press Release.
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[...] night, as before on the speculated merger with telenor, WaridTel denies sellout of stakes. In an official press statement found on their website, Bashir [...]
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I still wonder can a rumor be so strong that a business news channel reports it. :-O
If this happens Mobilink will piss in its pants to put in summary format.
It has been confirmed that Telenor has purchased the major shares of Warid. Now its yet to be confirmed that either Telenor Group decides to keep the brand identity of Warid & that means the operations will still oeprate under the umebralla of brand name WARID or Merge it into Telenor Group.
Hmmm going through the Telenor-Warid deal,,, it would be good for the industry but i seriously doubt that it will NOT effect Mobilink in any case & it will remain the larget operator coz i think Telenor Group ASA has decided to keep the brand identity of Warid & that means the operations will still oeprate under the umebralla of brand name WARID. I guess they wanted to go this way to measure ROI (return on investement) & to do accountability of their new operations. If that is true Mobilink will remain the largest operator, Telenor Pakistan will not gain much from this deal but TELENOR GROUP ASA will certainly reap more profits,,, in brief this deal will add value to the Telenor Group ASA but not to Telenor Pakistan
If this news is true then it simply means that Telenor will become the largest mobile operator in Pakistan leaving behind Mobilink……
Breaking News: Ufone to buy 30% Stake in China Mobile
Islamabad: November, 14, 2009: Ufone the leading mobile operator has recently shown interest in buying shares in Chine Mobile Pakistan. Waleed Arshad the Group Head of Ufone along with Abdul Aziz CEO and some other officials of Etasalat had a meeting with Mr Quan Chan, Director China Mobile and Mr Yuan Zang, Chief Operating officer China Mobile. Meeting took place in China Mobile headquarters in China on Nov 13th 2009. China Mobile has offered its 30% stake to Ufone while the Mou is expected very soon. The officials agreed upon the terms equally beneficial for both entities.
Ufone’s Brand story is a success to be marveled at. Over the last 2 years, Ufone’s brand has grown leaps and bounds and it’s continuous presence and unique humor has elevated its perception and equity drastically. The Brand has found its way into the hearts if the people and the message of “saaf awaz, Fauri Raabta, Behtreen Network and Sastay Tareen Call Rates” is now strongly associated with Ufone.
Ufone is an Etisalat Group Company with its presence in all the major cities of Pakistan along with a comprehensive coverage across all major towns, villages and tehsil headquarters of the country. The company employs more than 3,850 people and operates with a network of more than 375 franchises and 26 company-owned customer service centers along with a distribution network of 150,000 outlets nationwide.
If this news is true then it simply means that Telenor will become the largest mobile operator in Pakistan leaving behind Mobilink……
Warid Sells 63% Shares to Telenor in Abu Dhabi on 13th Nov.09 at 3 P.M.
I saw this news ticker on Business Plus channel today (14th Nov.) If
this is running on the TV then this news might be confirmed. So what
will be outcome of this deal in near and far future. Please discuss.
With Abu Dhabi group to sell off controlling stakes of Warid operations in Uganda and Congo (http://bit.ly/eAiPo) the telenor deal speculation of buying 63% of Warid Pakistan gains weight.
o no! Telenor is history.
I hope this is not possible.
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