Vim­pelCom, Dhabi Group com­plete Mo­bilink-Warid merger trans­ac­tion Com­bined en­tity to serve over 50m cus­tomers in Pak­istan

Pakistan Observer - - ECONOMY WATCH -

MIAN AR­SHAD IS­LAM­ABAD—Vim­pelCom, Global Tele­com Hold­ing (GTH), to­gether with Warid Tele­com Pak­istan and Bank Al­falah (Dhabi Group share­hold­ers), Fri­day, an­nounced the com­ple­tion of the trans­ac­tion to merge Pak­istan Mo­bile Com­mu­ni­ca­tions Lim­ited (Mo­bilink) and Warid Tele­com (Warid), cre­at­ing Pak­istan’s next gen­er­a­tion dig­i­tal telecom­mu­ni­ca­tions provider. Over 50 mil­lion cus­tomers in Pak­istan will ben­e­fit from high-speed mo­bile telecom­mu­ni­ca­tions and a best-in-class dig­i­tal mo­bile net­work. The com­bined Mo­bilink and Warid en­tity will be the lead­ing telecom­mu­ni­ca­tions provider of 2G, 3G and LTE ser­vices in Pak­istan, pro­vid­ing higher qual­ity na­tional voice and data cov­er­age, faster down­loads, and a wider port­fo­lio of prod­ucts and ser­vices.

Jean-Yves Char­lier, Chief Ex­ec­u­tive Of­fi­cer of Vim­pelCom, said: “Vim­pelCom con­tin­ues to make sig­nif­i­cant progress against its trans­for­ma­tion pro­gram. This mar­ket con­sol­i­da­tion rep­re­sents a fur­ther step in our strat­egy to strengthen our po­si­tion in the mar­kets in which we op­er­ate. As the Vim­pelCom Group fo­cuses on an am­bi­tious dig­i­tal trans­for­ma­tion, we are in­vest­ing in rev­o­lu­tion­iz­ing our tech­nol­ogy core and prod­uct port­fo­lio. We look for­ward to bring­ing in­no­va­tive new prod­ucts and ser­vices to our cus­tomers in Pak­istan.”

Chair­man of Dhabi Group, Sheikh Na­hayan Mabarak Al Na­hayan, said: “I am very happy that we have ar­rived at this mile­stone today which marks a unique mo­ment for the Pak­istan tele­com sec­tor. It is very pos­i­tive news for Pak­istan’s econ­omy.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.