Mobilink parent company VimpelCom on Thursday confirmed Mobilink’s merger with Warid Telecom — an entity that will serve 45 million customers across Pakistan. This is Pakistan’s first mobile telecommunications merger.
“We are delighted to announce the agreement with the Dhabi Group [Warid] shareholders today to combine our businesses in Pakistan,” VimpelCom CEO Jean-Yves Charlier said.
“With the addition of Warid to our already strong customer base at Mobilink, we will serve more than 45 million customers and offer a best-in-class mobile and high-speed data network – a key factor in the digital enablement of Pakistan’s economy.”
The combined revenue of both companies for the year leading to September 2015 was $1.4 billion.
“Creating the largest operator in Pakistan is a significant milestone for Mobilink and Warid but also for Pakistan as a whole,” Dhabi Group Chairman Sheikh Nahyan Mubarak al Nahyan said. “Both parties bring their unique strengths to this merger. Warid, with its strong post-paid base and high quality 4G/LTE network will complement Mobilink’s position in the market,” he added.
As part of the Transaction, Mobilink will first acquire 100% of Warid’s shares in consideration for the Dhabi Group shareholders acquiring approximately 15% of the shares of Mobilink. The transaction is expected to close within six months from today, subject to obtaining approvals from the relevant authorities in Pakistan.
.@Mobilink & @OfficialWarid agree to merge their operations in #Pakistan For details: https://t.co/uqjy27OT88 pic.twitter.com/mPttYuSiPZ
— Mobilink (@Mobilink) November 26, 2015
