PTA Approves the Merger of Warid and Mobilink

Islamabad: The PTA (Pakistan Telecommunication Authority) has Yesterday approved the merger of Warid Telecom (Private) Limited (Warid) and Pakistan Mobile Communication Limited (Mobilink). This is yet another breakthrough in the regulatory process and the results of the approval granted in March, 2016 by the CCA (Competition Commission of Pakistan). The deal remains subject to more regulatory approvals and other standard closing conditions.

Jeffrey Hedberg, CEO and president of Mobilink, said: 

“We are pleased that the Pakistan Telecommunication Authority has approved the merger of Mobilink and Warid, marking a further important milestone in the regulatory process. I am confident that thecombination of the two businesses will benefit customers through a best-in-class mobile and high-speed network, and contribute to the overall development of the telecommunications sector in Pakistan as an integral part of the economy. We look forward to bringing innovative technology solutions through world-class telecom services to our customers in the new combined entity.

Resources says that there is no cash deal involved in the deal except the exchanges of shares. Mobilink will acquire 100% shares of Warid while Warid will only have 25% share of Mobilink. It is a great milestone for Mobilink because, by this merger, Mobilink will be the greatest Telecom company with maximum users. Download Free Urdu Books and Novels