ISLAMABAD: The much-hyped merger of two telecommunication giants Mobilink and Warid finally completed on Thursday after the approval from Islamabad High Court.
VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan and Bank Alfalah (Dhabi Group shareholders), received the approvals from Islamabad High Court to merge Pakistan Mobile Communications Limited (Mobilink) and Warid Telecom (Warid).
In a handout, VimpelCom Chief Executive Officer Jean-Yves Charlier officially confirmed the completion of merger. “The High Court’s approval of the merger between Mobilink and Warid, confirms the creation of a world-class champion in the country and it marks another major step in VimpelCom’s transformation into a leading global technology group with the ambition to bring digital opportunities and experiences to a tenth of the world’s population,” he said.
Mobilink and Warid had already received approvals from Pakistan Telecom Authority (PTA), Competition Commission of Pakistan (CCP), Securities and Exchange Commission Pakistan (SECP), local and international creditors and State Bank of Pakistan (SBP).
