Zong not interested in buying Warid -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

Zong not interested in buying Warid

Pakistan Press Foundation

By: Abrar Hamza

KARACHI: The China Mobile Pakistan (CMPak) or Zong is not interested in purchasing one of the Pakistan’s telecom giants Warid Telecom as the company is preparing to get 3G and Long Distance International (LDI) licences, it was learnt from internal sources on Wednesday.

In a bit to quash the raging rumours that CMPak is interested in buying Warid, the former rebuffed such news saying that it’s absolutely unsubstantive as Zong is not considering any such move.

Internal sources from Zong told Daily Times that there are no facts behind such news reported in a section of the press.

They ruled out any possibility or any policy to acquire Warid Telecom saying that there are no such plans as currently Zong is scheduling to participate in 3G licence auction, for which billions are required. They, while quoting Zong Chief Executive Officer Fan Yun Jun, said that the company is ready to participate in auction of 3G technology as Zong has already invested in the required infrastructure to participate in auction for 3G technology and now waiting for the government’s progress.

Pakistan Telecommuni-cations Company Limited’s (PTCL) official replying to our query in this regard said that at present he is not in a position to deny or admit the news that PTCL is interested to buy Warid as he is unaware of such circumstances adding that he will be able to comment after discussion with the president.

Despite several attempts, no media relation officer of Warid was available for comment.

Sources said that Zong as well has planned to provide international outgoing and incoming calls facility through its own network by acquiring a LDI licence in the coming months with a million-dollar investment.

Earlier, it was reported in media by international news agency that Pakistan mobile operator Warid Telecom has been put up for sale by its Abu Dhabi owners and is likely to draw interest from CMPak and Etisalat, the Abu Dhabi Group, a conglomerate led by a ruling family member in the oil-rich emirate, who is seeking to sell all 100 percent shares in Warid Telecom, however, the agency also claimed that the company would also be prepared to sell a smaller controlling stake

Zong is the first foreign subsidiary of China Mobile Communications Corporation, the biggest telecom giant of the world. It has invested more than $2 billion so far in Pakistan since 2008 and it has planned to further expand its network along with network upgradation and 3G licence acquisitions in the future.

Daily Times


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