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Published on February 6th, 2010 | by Arsalan Mir

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Warid Denies Sellout of Stakes






Warid_logo2Earlier this week, The National, a news paper from Abu Dhabi published a story about Abu Dhabi Groups plans to sell controlling stakes of Warid Telecom to any potential buyer. Below are the excerpts from the news item.

“Every operator in Pakistan is looking for consolidation,” said Bashir Tahir, the chief executive of the Abu Dhabi Group. “We are talking to every operator and we know they are also talking to each other.”

Mr Tahir said he had been negotiating with Pakistan Telecommunication Corporation (PTCL), the country’s largest telecoms company, and Telenor, the incumbent operator in Norway that owns a subsidiary in Pakistan. “[PTCL] has shown keen interest in Warid Telecom,” he said. “We are talking with them and I’d be happy to invest with them, but the bases have to be clear.”

“Whenever a deal happens, the operator will get a big lead on the others,” said Ali Tahir, the group chief commercial officer of Warid Telecom.

“We’d rather have a slice of the bigger pie.” Pakistan has more than 97.6 million mobile phone subscribers and a penetration rate of 59.03 per cent, figures from the Pakistan Telecommunications Authority showed. It is forecast to grow to 130.6 million subscribers by 2013, according to IE Market Research. The industry generated revenues of 212.42bn Pakistani rupees (Dh9.18bn) in 2008, while the monthly average revenue per user rate is about 185 rupees, the regulator said. Ali Tahir, the son of Bashir Tahir, said the economic and political situation in Pakistan over the past two years had made it difficult to grow Warid Telecom.

Last night, as before on the speculated merger with telenor, WaridTel denies sellout of stakes. In an official press statement found on their website, Bashir Tahir denies all statements published earlier.

Recently there have been misplaced news items in certain section of the press that Warid Telecom Pakistan may be up for sale because of the shrinking interest of the sponsors relating to the market conditions in Pakistan. Warid telecom Pakistan categorically and unequivocally denies such reports and impressions. Warid Telecom Pakistan is not being sold off rather is on course with its expansion plans with the continuing focused view to extend quality services to its loyal customers to whom it is deeply grateful.  Warid Telecom Pakistan also extends sincere thanks to  its business partners for their support and professional contribution.

Bashir A. Tahir
Chief Executive Officer
Warid Telecom International

The same CEO denying the sellout is being quoted by the The National to be in talks with PTCL and Telenor.

It also merits mentioning here that Warid has recently sold a 51 per cent stake in its two largest African networks to India’s Essar, and 70 per cent of its Bangladeshi network to Bharti Airtel.

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About the Author

is a Telecom enthusiast with engineering background based in Lahore. On professional front, he is the Director Operations at the Target Group. He can be reached at arsalan (at) telecompk (dot) net



11 Responses to Warid Denies Sellout of Stakes

  1. Annie says:

    He did get fired, and as far as sources are concerned the source for this news is the Group Head of Bank. He was asked to resign, which is the same as getting fired.

  2. Arsalan Mir says:

    Got Fired, your opinions are appreciated but it will be better if you validate it by citing proper sources.

  3. Got FIRED says:

    He did not give any jobs to anyone. It was sheikhs money and he invested in pakistan to make more money. It was his luck that he was with the sheikh.

    Look at his track record.

    1). Jailed because of a fraud with BCCI.
    2). Corruption in Africa
    3). Corruption in wateen and warid
    4). Corruption in Taavun
    5). Finally got fired from ADG.

    What a shame to Pakistanis. Look at his cronyism.

    1). Brother also top man in ADG
    2). Son heading dhabi group finances
    3). Son heading Al-Razi medical center
    4). Nephew top man of Warid
    5). Son in law does contract work for phones and provides license etc to warid (big commissions)
    6). Son in law working for the major credit line provider to ADG, The Standard Chartered bank in Singapore.
    7). Brother’s sons also involved in warid and bank alfalah.

    SHAME ON THE FAMILY. TOTAL CROOKS. BUT SHAIKH IS A GOOD MAN, HE HAS LET THEM GO EASILY AND HAVE LEFT THEM ON THEIR OWN.

    PAKISTAN ZINDABAAD

  4. Pingback: Mobile Telecom Industry of Bangladesh. What’s Common with Pakistan? | Tea Break

  5. Arsalan Mir says:

    Distributed denial of services. :p
    Something will pop up here too. Soon ;)

  6. Babar says:

    Here’s an interesting one from our friend Imtiaz (@Inspirex) : At first when they denied anything happeningm the Bangladesh unit went to Airtel
    Then when the rumours got stronger about Warid pk, the African network sale news popped up…..and now the noise is quite loud again….and up comes a confession from the CEO, but to international media only :)

    funny!

  7. Arsalan Mir says:

    Babar, talk and counter talk ;).

  8. Babar Bhatti says:

    I like the statement: “Everyone is talking to everyone”! Well, thats what you do when you are a cell phone company – you talk :)

  9. Warid is not selling any stakes – Visit the following link to get to know the real story: http://www.waridtel.com/about/media/archive/warid-not-selling-its-stakes.php

  10. Pingback: Warid Denies Sellout of Stakes | State of Telecom Industry in Pakistan | Pro in Telecto

  11. Pingback: Warid Denies Sellout of Stakes | PressPK

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