In a recent development China Mobile has reportedly pitched Warid Telecom for acquiring its operations with management control. Inside sources from Warid, requesting anonymity have confirmed us that Warid posted a face value of US 2.5 Billion dollars for its operations and management in Pakistan and now China Mobile is closely considering its options for expanding their existence in Pakistan.
When contacted Warids spokesperson for official viewpoint of Warid, she denied any such thing happening. She further said that this can be wishful thinking of Zong but it is no way close to reality.
Zongs spokesman was not available for the comment
When consulted a telecom analyst, he expressed bright chances of China Mobile acquiring Warid especially when Zong is China Mobiles first venture outside China. He was sure that China Mobile is well placed to invest further to make its offshore business successful. He concluded the conversation by sayinfWe have seen Dhabi Groups strategy of selling partial or complete shares of its business venture, which adds chances of this rumor turning true.
On other hands, we have been witnessing silence from Warid Telecom for quite some time now, despite the fact that its competitors are fighting hard to snatch their subscribers share.