Finally out of five of the cellular operator company, now there left four companies as the leading telecom company Mobilink and Warid has officially announced to merge it operations and up forward they will be accumulated as one company.
VimpleCom, which is the parent company of Mobilink issued the detail about the first merger in Pakistan telecom sector. Here it is also told that the official signing has taken place earlier in the day and soon a press conference will be held by the both companies over the decision.
After the merger of Mobilink and Warid as one company, the number of customers will increase to more than 45 million.
It is also told that after the successful transaction, Mobilink’s CEO Jeffrey Hedberg will become the CEO of the company (Mobilink + Warid) and Mobilink’s CFO Andrew Kemp will be the CFO of the company.
The merger company will be having seven board of directors, out of which six will be nominated by VimpelCom and GTH (Mobilink) and one nominated by the Dhabi Group (Warid).
Commenting on the agreement, Jean-Yves Charlier Chief Executive Officer of VimpelCom, said: “We are delighted to announce the agreement with the Dhabi Group shareholders today to combine our businesses in Pakistan. With the addition of Warid to our already strong customer base at Mobilink, we will serve more than 45 million customers and offer a best-in-class mobile and high-speed data network – a key factor in the digital enablement of Pakistan’s economy. This transaction follows a number of strategic milestones for the company, including our recent joint venture announcement with WIND and 3 Italia in Italy and the agreement to sell our operations in Zimbabwe. This is yet another important step in our journey to continue delivering on our strategy to transform VimpelCom and improve our competitive position in our operating markets.”
Chairman of Dhabi Group, His Highness Sheikh Nahyan Mubarak Al Nahyan, said, “Creating the largest operator in Pakistan is a significant milestone for Mobilink and Warid but also for Pakistan as a whole. Warid’s partnership with Mobilink will create value for all stakeholders and pave the way for exceptional and cost-efficient telecommunication services for customers. Both parties bring their unique strengths to this merger. Warid, with its strong post-paid base and high-quality 4G/LTE network will complement Mobilink’s position in the market. We are very pleased to continue to contribute to the strengthening of the competitive landscape for the broader telecom sector and the overall economy of Pakistan. The transaction reaffirms my own and my fellow investors’ long-standing and continuing commitment to Pakistan.”
