Mobilink and Warid merge!

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Well, we have been hearing news about this huge merger between two huge telecommunication providing giants in Pakistan, Warid and Mobilink, for quite a few weeks now. Today, however, it has been officially confirmed by the parent company of Mobilink known as VimpelCom. As stated in the three tweets above from the official VimpelCom account on twitter, the two giant companies are now merged into one combined company. The company will provide services to 45 million users(combined).
It is being said that later today, maybe as we speak, there will be held a press conference by Mobilink where the details will be shed some light on.

Although the completion of the two companies being combined into one huge venture might take upto a year, the current CEO of Mobilink, Jeffrey Hedburg will become the CEO of the combined venture and the current CFO of Mobilink, Andrew Kemp will become the CFO of the combined venture.

The merger was signed between VimpelCom(Parent company of Mobilink) and Dhabi Group(Parent company of Warid). The board of directors will consist of 7 members, of which 6 will be nominated by VimpelCom and Mobilink while 1 will be nominated by the Dhabi Group Shareholders.

Speaking about the merger, the CEO of VimpelCom, Mr Jean-Yves Charlier, said

"We are delighted to announce the agreement with the Dhabi Group shareholders today to combine our businesses in Pakistan.With the addition of Warid to our already strong customer base at Mobilink, we will serve more than 45 million customers and offer a best-in-class mobile and high-speed data network – a key factor in the digital enablement of Pakistan’s economy.This transaction follows a number of strategic milestones for the company, including our recent joint venture announcement with WIND and 3 Italia in Italy and the agreement to sell our operations in Zimbabwe.This is yet another important step in our journey to continue delivering on our strategy to transform VimpelCom and improve our competitive position in our operating markets.”

 

 

Also, the chairman of Dhabi Group, Sheikh Nahyan Mubarak Al Nahyan, said
 
“Creating the largest operator in Pakistan is a significant milestone for Mobilink and Warid but also for Pakistan as a whole.Warid’s partnership with Mobilink will create value for all stakeholders and pave the way for exceptional and cost-efficient telecommunication services for customers.Both parties bring their unique strengths to this merger. Warid, with its strong post-paid base and high quality 4G/LTE network will complement Mobilink’s position in the market.We are very pleased to continue to contribute to the strengthening of the competitive landscape for the broader telecom sector and the overall economy of Pakistan. The transaction reaffirms my own and my fellow investors’ long-standing and continuing commitment to Pakistan.”


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