Warid Telecom’s stake to be sold by Abu Dhabi Group

www.WirelessFederation.com/news: In order to sell controlling stake in Warid Telecom, the Abu Dhabi Group is in talks with several Pakistani telecommunications groups. If the deal materializes, it will create the largest mobile operator in the country. Although, the company denied revealing the size of the stake, it made it clear that it was looking to offload a sizeable shareholding along with management control.

30 percent stake in Warid Telecom’s Pakistani network was sold by Abu Dhabi Group in July 2007 for USD 758 million in a deal that valued the whole company at USD 2.9 billion.

According to Sheikh Nahyan bin Mubarak, the Minister of Higher Education and Scientific Research and chairman of Abu Dhabi Group, the company is negotiating with PTCL and Telenor.