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SingTel buys Warid stake
- United Arab Emirates: Sunday, July 01 - 2007 at 14:49
Singapore Telecommunications and Warid Telecom, which is backed by the Abu Dhabi Group, have entered into an agreement which will see SingTel acquire a 30% equity stake in Warid for an estimated $758m. Since its commercial launch in 2005, Warid Telecom has acquired around 9.7m subscribers, representing an estimated market share of 16.6% and making it the third largest mobile operator in Pakistan.
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Jonathan Sheikh-Miller, Deputy EditorSunday, July 01 - 2007 at 14:49 UAE local time (GMT+4)
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