Etisalat affiliate interested in Warid Telecom

Warid, Pakistan’s smallest operator, has been put on the block by its Abu Dhabi owners in a sale likely to fetch up to $1 billion. Earlier this week, Reuters reported that etisalat had hired Goldman Sachs to advise on a potential bid for Warid.

“Etisalat Group holds a stake in PTCL with managerial control and PTCL has expressed an interest in Warid Telecom. Etisalat Group cannot offer further comment and will not comment on speculation regarding Warid Telecom,” etisalat’s spokesman Ahmed bin Ali said.