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SingTel eyes 30% stake in Warid June 26, 2007

Posted by Mustafa in Cellular, consumer, Global, GSM, mobile, Network, Paksitan, Service Providers, telecom, World, Worldwide.
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Source: Telegeography

 According to the Financial Times, SingTel is close to securing a 30% stake in Pakistani cellco Warid Telecom, in a deal that would value the country’s third-largest mobile operator at USD1 billion. Citing unidentified people familiar with the situation, the FT said SingTel had emerged as a strong favourite to buy the stake, ahead of MTN and Vodafone. ‘A deal between SingTel and Warid could be signed as early as next month,’ the newspaper quoted one of its sources as saying.

Warid is owned by the private Abu Dhabi Group, which is one of the largest foreign investor groups in Pakistan and owns Bank Alfalah and Wateen Telecom. Warid owns wireless and broadband operations in Bangladesh and Uganda.

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1. Raza waheed - February 25, 2008

Dear all this was jast a rumour that Singapore Telecom-munications (Singtel), have any interest in buying minority stake in Warid Telecom, said Andrienne Tho, senior corporate communication manager.

“We do not comment on market rumours,” the official said when approached by Daily Times. He further said that we are not in talks with Warid Telecom, and these are only rumours.

However, company sources claimed that the third largest cellular company of Pakistan, Warid Telecom, is in talks with various foreign telecom companies to sell its minority stake.

A well-placed source in the company told Daily Times: “Since last two years, Warid Telecom has been approached by several international telecom companies to buy its stake, as Pakistani telecom industry is on the boom since the last couple of years.”

“Companies like Britain’s Vodafone Group, Kuwait’s Mobile Telecommunications Co, and few other big names are interested in buying a stake in Warid,” the source said.

The source further said: “The management is not willing to sell its controlling stake or brand name as Warid is standing on third position among its competitors.”

According to analysts many foreign telecom mobile companies want to enter the Pakistani telecom market through existing players. The government is not issuing any new licence for the newcomers.

In recent years, Pakistani cellphone industry business in the country has risen from 1.2 million in 2002 to 52 million in 2007. After the arrival of Warid and Telenor, an intense competition has been seen in the business.

Mobilink has over 25 million clients followed by Ufone with 12 million, Warid with 9.7 million and Telenor with 9.6 million. In the month of April 2007, Warid recorded 8.5 percent increase and is now in third place.

Warid is owned by the private Abu Dhabi Group, which is one of the largest foreign investor group in Pakistan and also owns Bank Alfalah Ltd and Wateen Telecom. It also owns a stake in United Bank Ltd.

Warid telecom, which launched in May 2005 and has around 9.7 million customers. Within two years of operations, the company has generated the largest postpaid family in Pakistan and coverage in more than 150 cities.

Recently Warid has acquired licenses in two more countries and recently launched operations in Bangladesh. Warid Telecom was a new venture for the Abu Dhabi Group.

This year, China Mobile Communications Corp., the world’s biggest wireless carrier, bought money-losing Pakistan operator Paktel Ltd. against $284 million for its first acquisition outside its home market.

Beijing-based China Mobile bought a 100 percent stake in Paktel, now known as CM PAK, from Millicom International Cellular, a Luxembourg-based company that operates in emerging markets. Pakistan’s mobile phone sector has been growing at a rapid pace, with the number of subscribers reaching 58.3 million at the end of April around 35 percent of the population from only 12.8 million in 2005.

2. Rizwan Khan - April 10, 2008

HiHiHiHiHiHi Poor Warid Telecom and its self maded Rumour

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