jump to navigation

Warid Telecom Gets Funding for Network Expansion January 30, 2009

Posted by aikservices in Financial, Mobile Network Operator, Pakistan, Singtel, Warid Telecom.
Tags: , , , ,
trackback

 

Pakistani mobile network operator, Warid Telecom says that it has had an injection of US$250 million in equity by its two joint shareholders, Singtel and the Abu Dhabi Group. The company said that the funds will be used to expand the network coverage.Tariq Gulzar – Warid’s Chief Financial Officer said, This equity injection of US$250 Million by the company’s shareholders, namely Abu Dhabi Group and SingTel, demonstrates the confidence reposed by our shareholders in the company’s ability to continue to provide highest level of quality services to our valued subscribers at very affordable prices. We are going to further enhance our technical and retail network across the country to exceed the expectations of our existing and potential subscribers.

Warid Pakistan is a joint venture between Abu Dhabi Group & SingTel Group. Abu Dhabi Group entered into a strategic alliance with Singapore Telecom. Subsequent to this transaction in July 2007, telecom giant SingTel acquired 30% percent equity stake in Warid Pakistan, for US$758 million.

Mobile Industry News

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: