Warid to sell off minority stake?

21 May 2007

According to industry sources, Pakistan’s third largest cellco by subscribers, Warid Telecom, is in talks with several foreign firms, including SingTel, to sell a minority stake. ‘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,’ said a source close to the company, before adding, ‘But no final decision has been taken as yet. The picture will become clear by July or August.’ The operator is currently owned by the Abu Dhabi Group of the United Arab Emirates.

Pakistan, Warid Telecom (Jazz)