Vimplecom is interested in buying Warid Telecom
Vimpelcom, the major shareholder of unit Orascom Telecom, which owns the Mobilink in Pakistan is planning to buy Warid Telecom.
Vimpelcom has agreed to sell two of its sub-Saharan assets for about $100 million and is bidding for Pakistan’s mobile operator Warid Telecom.
A full sale of Warid, owned by conglomerate The Abu Dhabi Group, could raise up to $1 billion.
Vimpelcom has hired Citigroup Inc to advice on the potential acquisition of Warid Telecom. Earlier in the day, UAE telecommunications firm Etisalat said its affiliate Pakistan Telecommunication Co Ltd (PTCL) had expressed interest in Warid.