Breaking: Zong Decides Not to Bid for Warid Telecom

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In a rather surprising move, CMpak or Zong decided not to bid for Warid Telecom, we have confirmed with sources.

As per highly reliable sources, Etisalat and VimpelCom are the only two groups contesting to take hold of 100 percent shares of Warid Telecom.

CMPak, one of the favourites, opted out of the bidding on the last day, confirmed us a source who wanted to remain unnamed.

Mr. Sikandar Naqi, Chief Public Relation Officer, Zong, confirmed ProPakistani that CMPak decided not to opt for the bidding for Warid in Pakistan after conducting business evaluation of the proposition.

It merits mentioning here that Zong had aggressively expressed its interest in Warid, a deal which could get the company at least 11 million subscribers to take it to number two position in the market in terms of subscribers.

Experts are pretty much surprised with the development. They are unable to comprehend the fact that Zong has missed such an opportunity, especially when its parent group (China Mobile) has over USD 70 billion dollars cash in hand.

When asked about his thoughts on the development, Mr. Sohaib Sheikh, a telecom expert, said that It is too early to speculate right now on this. Zong has done phenomenal work in Pakistan and has been committed to the rollout of their network footprint and increasing their subscriber base. He further added that if its true then there decision must have been backed by some rationale and thought process behind it and it shows company’s confidence and strong focus on 3G to capitalize its growing market share amongst the potential segments.

There are clear speculations that Zong has saved the money for investment in 3G operations, while others are of the opinion that Warid’s high asking price was the bone of contention.

Zong didn’t clarify the reasons for pulling out of Warid bidding but said that company has decided to invest aggressively in Pakistan in the near future to transform CMPak within the technology industry and to achieve growth through investing in 3G and beyond.

It is expected that the outcome of the bidding — for the sale of Warid — will surface after Eid, somewhere around the last week of October, 2013.

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


  • Gulab Shah

    nothing breaking at all dont piss me off :S

  • CommonS

    “Experts are pretty much surprized with the development. They are unable to comprehend the fact that Zong has missed such an opportunity, especially when its parent group (China Mobile) has over USD 70 billion dollars cash in hand.”

    Like seriously, if you have $70Bn in hand this means you should flush it down the toilet right??? And its not surprized, its surprised.

  • Guest

    I Also Decide I’ll Not to Bid for Warid Telecom :P

  • PeeDroid

    Tareekh Ta Tareekh Paai Jey Judge Sahab Par “YouTube” Nahi Khuli!!
    “YouTube Di Koi Nawi Story Tuwadey Kol Aay Howay Te Dasso “Aamir Attaa Sahab”.
    Maheerbani!!

  • tazzix

    You should know better, ptcl already bought Warid and the apparent process is a farce now.

  • ExZonger

    ZONG is a highly Mis-Managed Organization, they could not handle and digest the success they got ONLY because of Usman Ishaq’s Leadership-hence started day dreaming that their product is selling automatically! The Chinese think they know the Pakistani market better than the locals and with that foolishness in mind they are heading towards a catastrophe-deploying irrelevant people on speciallized position i.e. both Chinese as well as Pakistanis!

    • MoneyMinded

      I’m very sorry you didn’t get your cut of the $1Bn acquisition of Warid.

  • Copy

    Full copy of The tribune article !

    • aamir7

      Sir, they copied us.

      • you should tell them to credit you.

        • Inamullah Taj

          Man, I love you! Hahahahaha

      • faizy

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  • Rizwan Yaqoob

    damn! I was expecting Zong will have stronger coverage than before.

  • JAVED AHMED

    muy

  • JAVED AHMED

    their….are…only….two….muslims..sims…………..warid……..and…….ufone……..
    which…..you….willl…like…..to…..use