The on-going talks between Etisalat with Warid Telecom for possible merger/acquisition have been called off, we have confirmed with our sources.
The decision has been taken by the Shareholders of Warid Telecom Pakistan since an agreement could not be reached on the desired price demand for the company.
The shareholders firmly believe that the company has strong fundamentals and decided to focus on further enhancing its value and will continue to provide innovative telecom services to its loyal subscriber base.
Our sources have confirmed that Warid has plans to invest more in the market to get the company to the next level. This expansion will not only span around the services but coverage too.
While we are still not sure about its participation in 3G/4G auction, it can be safely said that they are best suited for the next gen technology due to highest paying ARPUs from their loyal customers.
Warid has over 12 million customers and sits at number five position in the market. Its fully owned by Dhabi Group of UAE and competes with four other operators in Pakistani market.