Orascom is Not Looking at Merger in Pakistan

Orascom Telecom’s chairman, Naguib Sawiris, said he saw need for consolidation in the Pakistan mobile market but Mobilink is unlikely to participate because it is the market leader.

“I don’t think its good for me to increase dominance in Pakistan,” Sawiris said at an investor conference. Sawiris has just recently stepped down as CEO of group to become Executive Chairman.

Separately yesterday, Telenor finance director Trond Westlie said that Telenor will support consolidation when asked about reports it was looking to buy a Pakistani rival. He said that Telenor is open for in-market consolidation in Pakistan but declined to comment on rumours it was planning to buy Warid Telecom.

“We have not commented on any discussion with anybody. We are aware the market is moving but we will not comment before we deliver”, said Trond Westlie.

Via Reuters

Tech reporter with over 10 years of experience, founder of ProPakistani.PK