STAFF REPORT LHR: Zong, also known as China Mobile Pakistan, has confirmed that it is seriously considering the acquisition of Warid Telecom sources close to this development disclosed adding, for this purpose, Dubai based investment banking firm MAS ClearSight has been asked to evaluate the deal and assist Zong during the buyout process.


“We are looking into Warid very seriously and it does make a lot of business sense for us to go with the deal,” said Sikander Naqi, Zongs Chief Public Relations Officer.


He said that Zong has grown exponentially during the last three years and today its stands as the fastest growing network in Pakistan with over 22 million customers and are continuing to grow on a very fast pace.


Naki further said that our parent company, China Mobile, has strong financials to go through with this deal and with $70 billion cash in hand, we already have been given a mandate to go forward with the bid and we are anxiously waiting to see how it turns out.


According to him, buying Warid could be a good idea for China Mobile, especially at a time when new customer acquisitions have become harder.


A Warid official said that a three to four weeks deadline has been put in place to file the financial bid. He said a number of companies have shown interest in the company on the basis of its strong infrastructure and dedicated customer base in Pakistan.

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