The news was around from past few months that Singtel is to take more stakes of the Abu Dhabi Group’s Warid Telecom. Sources from Warid are now confirming that the deal is sealed and it shall be made public soon. Singtel shall take over Warid within next two weeks.
The company at present holds 30% stake at Warid Telecom. It is the Asia’s largest communication groups with operations and investments in more than 20 countries.
This will definitely be the news of the year. Being a more experienced company, it is expected it shall bring in new ways to manage and market, the two prime things which the Warid Telecom under Abu Dhabi lacked the most.
But one thing that still is uncertain. Is Abu Dhabi Group on a complete wrap-up of its telecom business in Pakistan? If so, what is the future of Wateen Telecom, a sister concern of Warid?