VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan and Bank Alfalah (Dhabi Group shareholders), today 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.”
Chairperson of Dhabi Group, His Highness 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.”
Adeel Bajwa, Chairman, Board Executive Committee, Warid Telecom said“I am very happy to mark this occasion of consolidation as the right step forward for the telecom industry of Pakistan. Not only is this a great achievement for the telecommunications sector, but also a boost for the local economy. I would also like to take this opportunity to express gratitude to all the relevant regulatory authorities for granting approvals which made this unique landmark possible.”
Mobilink and Warid Telecom will benefit from VimpelCom’s investment
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.
The Group’s new digital systems will enable faster roll-out of new local products and services, particularly in the areas of mobile entertainment, communications, the Internet of Things, and mobile financial services.
Through this, Pakistan’s digital development will be elevated to the next level, further reducing the digital divide. VimpelCom, GTH and Dhabi Group announced the agreement to combine their Pakistan telecommunication businesses on 26 November 2015.
The completion of the transaction follows regulatory approval from all the relevant authorities and the subsequent exchange of shares. Mobilink has completed the acquisition of 100 percent of Warid’s shares, and the Dhabi Group Shareholders have acquired 15 percent of the shares of Mobilink.