Etisalat affiliate interested in Warid Telecom

Etisalat said on Monday that its affiliate Pakistan Telecommunication Co Ltd (PTCL) had expressed interest in mobile operator Warid Telecom.

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Published: Tue 30 Jul 2013, 2:20 PM

Last updated: Tue 7 Apr 2015, 4:51 PM

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.

Published: Tue 30 Jul 2013, 2:20 PM

Last updated: Tue 7 Apr 2015, 4:51 PM

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