Today WaridTel’s CEO Mr. Bashir Tahir announced publicly in a press release that WaridTel is not for sale. Since many months there was a rumor in the market that WaridTel is going to be sold to any of the existing mobile operator in Pakistan because of its low efficiency. Today the CEO of WaridTel denied this and further added that WaridTel is still looking forward for the expansion of its network throughout Pakistan.
Couple of months ago, the news of WaridTel being sold became very famous and the name that was appearing in the market was Telenor. Rumors were that Telenor Pakistan has purchased the remaining shares of WaridTel (by remaining I mean, already some of the shares of WaridTel are with SingTel). Sometimes it was even heard that Zong (China Mobile) is also bidding for the shares of WaridTel. But within last couple of months a sure news was coming out from everywhere that WaridTel is sold to Telenor and WaridTel will be re-branded into Telenor by March 2010.
Following is the Press Release of Warid Telecom (6th Feb. 2010)
Warid Not Selling its Stakes
Recently there have been misplaced news items in certain section of the press that Warid Telecom Pakistan may be up for sale because of the shrinking interest of the sponsors relating to the market conditions in Pakistan. Warid telecom Pakistan categorically and unequivocally denies such reports and impressions. Warid Telecom Pakistan is not being sold off rather is on course with its expansion plans with the continuing focused view to extend quality services to its loyal customers to whom it is deeply grateful. Warid Telecom Pakistan also extends sincere thanks to its business partners for their support and professional contribution.
Bashir A. Tahir
Chief Executive Officer
Warid Telecom International