PTCL submits non-binding offer for Warid

1 Oct 2013

Fixed line incumbent the Pakistan Telecommunications Company Ltd (PTCL) has announced that it has submitted a non-binding offer to acquire wireless operator Warid Telecom, the Daily Times reports. PTCL’s offer is valid for 30 days, though no further information on the proposal was available. As previously noted by CommsUpdate, China Mobile, which has a presence in the market via its wireless arm China Mobile Pakistan (CMPak, offering services under the Zong brand), has also expressed an interest in snapping up the cellco. Should PTCL’s proposal be approved, a merger between Warid and its wireless arm, Pakistan Telecommunications Mobile Ltd (PTML), would create an entity with a market share of around 28.8%, leapfrogging Norwegian-backed rival Telenor Pakistan to take second place in the market behind Mobilink, which is majority owned by the Vimpelcom Group.