After receiving approvals from Islamabad High Court, VimpelCom, the parent company to Mobilink and Dhabi Group, the parent company to Warid, have announced completion of Mobilink and Warid deal
VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan, today received the approvals from Islamabad High Court to merge Pakistan Mobile Communications Limited (Mobilink) and Warid Telecom (Warid). The approvals from Pakistan Telecom Authority, Competition Commission of Pakistan, Securities and Exchange Commission Pakistan, local and international creditors and State Bank of Pakistan have already landed.
Global Telecom Holding (GTH) is 51.9% owned by VimpelCom Limited, and is a international telecommunications company which is operating mobile networks in high growth markets in Africa and Asia, having a total population under license of approximately 401 million. The merged company will serve over 51 million customers in Pakistan who will benefit from high-speed mobile telecommunications and a best-in-class digital mobile network through its state of the art 3G and LTE services.
Jean-Yves Charlier, CEO VimpelCom, said,
“The High Court’s approval of the merger between Mobilink and Warid, confirms the creation of a world-class champion in Pakistan,” while His Highness Sheikh Nahayan Mabarak Al Nahayan, Chairman of Dhabi Group, said, “I am pleased to know that courts of Pakistan have approved the merger of Mobilink & Warid along with all pertinent regulatory approvals for consolidating the two businesses. This merger of is yet another landmark achieved, which will further accelerate advancements in telecommunication sector in Pakistan. ”
Aamir Ibrahim, CEO – Mobilink and Warid said: “The Group’s new digital systems will enable faster roll-out of new local products and services, particularly in the areas of mobile entertainment, communication, the Internet of Things, and mobile financial services.”
Dhabi Holdings is the managing body which manages companies with shares in various sectors and geographies, and in telecommunication (Warid & Wateen, Pakistan), Banking & Financial Services (Bank Alfalah, Pakistan), Real Estate, Energy (Oil & Gas / Geothermal), Healthcare and Construction.