Warid sale expected before 3G auction

11 Nov 2013

Fixed line incumbent Pakistan Telecommunications Company Ltd (PTCL) is still involved in talks regarding the potential acquisition of wireless provider Warid, but is yet to submit a binding offer for the cellco, the Daily Times reports. The paper cites local experts as saying that the prolonged negotiations are likely down to ‘substantial liabilities’ on Warid, although a deal is likely to be completed before 3G licences are auctioned in February next year. Warid is expected to sell for between USD600 million and USD800 million.

Pakistan, Pakistan Telecommunication Company Limited (PTCL), Warid Telecom (Jazz)