Zong ruled out any possibility or policy for acquiring Warid Telecom as the company was scheduling to take part in the 3G license auction which required billions in itself, as reported by Daily Times. Zong Chief Executive Officer Fan Yun Jun said that the company was already halfway through the 3G phase as Zong had already invested in the required infrastructure to participate in auction for 3G technology and was now waiting for the government’s progress.
Even though Zong is taking this stance of non-acquisition now, high-ups of the company have had several meetings with Abu Dhabi Group which seem to have been unfruitful.
The decision makers of Warid in the Abu Dhabi Group had been discussing various options regarding future of the company in Pakistan, as reported yesterday. It was also mentioned that China Mobile (CMPak) along with Etisalat are most likely to take part in buyout of the company. But when asked by the media regarding this issue, Zong (CMPak) denied having any interest in acquiring the company.
PTCL, on the other hand neither approved nor denied the claim. The PTCL official said he was not in a position to deny or admit the news that PTCL is interested to buy Warid as he was unaware of such circumstances.
The statement from PTCL CEO, Walid Irshad weighing possible implications of buying Warid has been there for quite some time. It is still not certain if Etisalat is interested in buying the company or not.
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