Mobilink-Warid merger to share Telecom Industry future in Pakistan
ISLAMABAD: (APP) VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan and Bank Alfalah Dhabi Group shareholders on Friday announced the completion of the transaction to merge Mobilink and Warid, creating Pakistan's next generation digital telecommunications provider.
Mobilink and Warid transaction combined entity to serve over 50 million customers as Pakistan's leading high-speed mobile network, said a press statement issued by the companies.
The statement said that 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.
Chief Executive Officer of VimpelCom, Jean-Yves Charlier, 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. The Dhabi Group remains committed to Pakistan and its economic progress and I would like to thank all the relevant authorities for their support in closing this transaction. I am confident that together, the combined businesses will continue to deliver excellence to their customers while contributing positively to the business environment in Pakistan."
Mobilink and Warid will benefit from VimpelCom's USD 1 billion investment into building one of the largest and most ambitious IT infrastructures in the industry.