Home Business CCP Approves Warid’s Merger with Mobilink

CCP Approves Warid’s Merger with Mobilink

CCP Approves Warid’s Merger with Mobilink

Islamabad (March 22, 2016) – TheCompetition Commission of Pakistan (“CCP”) has approved the merger of Pakistan Mobile Communications Limited (“Mobilink”) and Warid Telecom (Private) Limited (“Warid”)*. This approval is the first of four required approvals from the local regulatory bodies, including Pakistan Telecommunication Authority (“PTA”), Securities & Exchange Commission Pakistan (“SECP”) and the State Bank of Pakistan (“SBP”).

Commenting on the approval, Jean-Yves Charlier, CEO of VimpelCom, said, “We are pleased that the Competition Commission of Pakistan has approved our request to merge the two businesses. The combination of Mobilink and Warid will be a positive step for the development of technology and communications services in Pakistan. Together, the future entity will serve more than 45 million customers through a best-in-class mobile and high-speed network, andbring further investment into infrastructure and digital services forconsumers in Pakistan as they navigate the digital world.”Commenting on the approval, Jeffrey Hedberg, President and CEO of Mobilink, said,”We are delighted to receive the CCP’s approval, which is an important milestone in the merger process and paves the way for other regulatory approvals. We appreciate the role played by the CCP during this process and we look forward to progressing with the remaining regulatory bodies in the coming days.”Mr. AdeelBajwa, Chairman Board Executive committee, Warid Telecom Pakistan expressed his gratitude, “We are happy on receiving the approval from the Competition Commission and thankful to the Authority for their wisdom and support. The Authority has shown great professionalism in reaching this determination after thorough deliberations and detailed evaluation. This is a milestone in the Telecommunication history of Pakistan. Such steps will go a long way towards enhancing Investor confidence in the country and the progress of Cellular Industry. We look forward to the next steps in this process and are very excited about the opportunities this affords us for better serving our customers”.

The transaction is the first major merger in the mobile telecommunications sector in Pakistan.

Must Read

A dark horse contender in the wearables market, realme breaks into the Top 10 TWS brand in terms of global market share

realme, the fastest-growing smartphone brand in the world, recently broke into the Top 10 TWS brands in terms of shipments for Q3 2020, according...

January 2021’s Biggest Launch, OPPO Reno5 is Now Available in the Market for all the Photography Enthusiasts out there

Specifications OPPO Reno5 Appearance Weight: about 171g Height: about 159.1mm Width: about 73.3mm Thickness: about 7.7mm (Starry Black); about 7.8mm (Fantasy Silver) Screen Size:  6.4"(16.33cm) Screen Ratio: 91.7% Resolution: 2400 x 1080 (FHD+) Refresh...

Telecom Sector Contributes 278b to National Exchequer in Year 2020: PTA Annual Report

Telecom sector has emerged as a prominent contributor to Pakistan’s economy and the sector contribution to the national exchequer has shown an increase of...

realme manifested to improve picture quality through innovation by introducing 64MP camera

realme has launched some best camera phones in the market. They have matched all the requirements of the customers. The increasing quality and features...

OPPO Places Primary Focus on Crafting an Ideal User-Centric Customer Experience Through their IoT Ecosystem

OPPO has been making waves ever since it entered the Pakistani market in 2015 with its high-quality smartphones. Having recently released the ultra-sleek new...