Warid Receives Equity Investment of $ 250 Mln

warid_new_logoWarid Telecom has confirmed the injection of US 250 million dollars (Rs. 20 billion) equity by its joint shareholders Abu Dhabi Group and Singtel, reports Dawn Newspaper citing a statement issued by company.

Statement said that Warid has aggressively penetrated the Pakistan mobile communication services market with huge capital expenditure, which has enabled it to capture market share of 18.8% (as of Dec 08) and coverage in over 450 cities and 7,200 towns across Pakistan.

Company says that equity injection will be used to further enhance the Company’s network coverage with the objective to provide quality services to its customers.

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