China Mobile-owned Zong is considering bidding for smaller Pakistani mobile operator Warid Telecom, according to local paper The News.
A Zong spokesperson told the paper that parent China Mobile has already given the Pakistani unit a mandate to go…
China Mobile-owned Zong is considering bidding for smaller Pakistani mobile operator Warid Telecom, according to local paper The News.
A Zong spokesperson told the paper that parent China Mobile has already given the Pakistani unit a mandate to go forward with the bid.
The operator is reportedly advised by MAS Clearsight. Because of tight regulation, which limits organic growth, consolidating another operator is one of the few options available to China Mobile to grow in Pakistan’s mobile market, the newspaper stated.
Zong, which is the country’s fourth-largest player out of five, could not be reached for comment. China Mobile was not immediately available for comment.
Warid, owned by the Abu Dhabi Group, has attracted strong interest since it was put on the block in June. Two months ago UAE’s Etisalat confirmed that its unit Pakistan Telecommunication Company (PTCL), number three in the country, was considering a bid for Pakistan’s smallest operator.
Meanwhile, number one VimpelCom’s Mobilink and Ooredoo are also rumoured to be looking at the asset. Goldman Sachs has reportedly been mandated to work on a deal.
Earlier this year, telco giant Singapore Telecommunications exited Warid by selling its 30% stake to the Abu Dhabi Group for US$150m.
