ISLAMABAD: Mobilink, Pakistan’s biggest cellular company, may acquire Warid telecom soon.
According to the official sources in Mobilink, both the companies are in talks to seal the successful deal, which may be done in September this year. In June 2013, Warid was put on board for sale and at that time China Group and Etisalat Group were interesting in purchasing Warid.
Later on in October 2013, Pakistan Telecommunication Company Limited (PTCL) announced to submit non-binding offer to acquire Warid that didn’t fulfilled by the PTCL.
Since the commencement of year 2015, Warid is continuously facing hefty loans and outstanding payments issues due to slash in sale. In March 2015, both Zong and Ufone had offered the Warid to pay its loans and other payments and even offered $1 billion each with an aim to get the Warid.
