Vimpelcom drops out of running for Warid

11 Mar 2014

Amsterdam-based international telecoms group Vimpelcom Ltd has abandoned talks regarding a potential takeover of Pakistani cellco Warid Telecom after failing to agree a price with the cellco’s owners, Abu Dhabi Group, Bloomberg writes citing an unnamed source close to the matter. Vimpelcom, which operates in Pakistan’s mobile market through its Mobilink unit, had previously commented that it was investigating opportunities for consolidation in the Pakistani market, but remained tight-lipped regarding negotiations with Abu Dhabi Group. As previously noted by CommsUpdate, Pakistan Telecommunication Company Ltd (PTCL), partly owned by UAE-based Etisalat, had also been involved in talks with Abu Dhabi but also failed to reach an agreement on the valuation of Warid.

Pakistan, VEON, Warid Telecom (Jazz)