Smartphones And Mobiles
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Smartphones And Mobiles
Mobilink and Warid agreed to merge their business in Pakistan
This news will must be amazing for you as for all the other Pakistanis that Mobilink and Warid, the two famous telecom companies are going to be united. The agreement of their merging has been signed in Lahore and the whole procedure will be completed with in the period of one year. So there is a chance of coming 4G services on your mobilink sim very soon.
The rumors were in the air of merging of these two companies. Many people were waiting for the official announcement in this regard. So the wait is over today and both the groups have officially announced that they are going to merge their Pakistan telecom business.
Mobilink Pakistan is operated by the group "Global Telecom" and Global Telecom is 51.9% owned by "VimpelCom Limited". whereas VimpelCom is an international telecoms company operating in 14 countries and headquartered in Amsterdam.
The VimpleCom has officially announced that they are going to hold Warid telecom business in Pakistan.
Mobilink has also officially declared the details of this agreement.
Chairman of Dhabi Group, Sheikh Nahyan Mubarak Al Nahyan, said
? As part of the Transaction, Mobilink will first acquire 100% of Warid?s shares in consideration for the Dhabi Group shareholders acquiring approximately 15% of the shares of Mobilink (the ?Transaction?). Following completion of the Transaction, the parties intend to merge Warid into Mobilink in due course (the ?Merger?).
? The Transaction is expected to close within six months from today, subject to obtaining approvals from the relevant authorities in Pakistan and the satisfaction of customary closing conditions. The Merger is expected to close within 6 months from closing of the Transaction, subject to the satisfaction of customary closing conditions. After a four year lock-in period following the date of closing of the Acquisition Transaction, the Dhabi Group shareholders will have the option to put their shares of the merged company to VimpelCom/GTH, and VimpelCom/GTH will have the option to call the shares of the merged company held by the Dhabi Group shareholders, each at fair market value.
? For further information please refer to the investor presentation on www.vimpelcom.com which will be loaded at 13:30 CET today. VimpelCom and GTH will host an analyst and investor conference call at 14:00 CET today.
Mobilink Pakistan is operated by the group "Global Telecom" and Global Telecom is 51.9% owned by "VimpelCom Limited". whereas VimpelCom is an international telecoms company operating in 14 countries and headquartered in Amsterdam.
The VimpleCom has officially announced that they are going to hold Warid telecom business in Pakistan.
?Combined Mobilink and Warid Telecom business will serve over 45 million mobile customers and will become the leading high-speed mobile network in Pakistan?.
#News: #VimpelCom and Dhabi group signing merger deal in #Pakistan to combine @Mobilink and @OfficialWarid #mobile pic.twitter.com/vpY8ZMhPYC
— VimpelCom (@VimpelCom) November 26, 2015 ?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.?
Mobilink has also officially declared the details of this agreement.
.@Mobilink & @OfficialWarid agree to merge their operations in #Pakistan
For details: https://t.co/uqjy27OT88 pic.twitter.com/mPttYuSiPZ
— Mobilink (@Mobilink) November 26, 2015 "The transaction is expected to create Capex and Opex synergies with a net present value of approximately USD 500 million. The combined revenue of both companies for the 12 months to September 2015 was USD 1.4 billion".
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.?
Additional details of the Transaction
? As part of the Transaction, Mobilink will first acquire 100% of Warid?s shares in consideration for the Dhabi Group shareholders acquiring approximately 15% of the shares of Mobilink (the ?Transaction?). Following completion of the Transaction, the parties intend to merge Warid into Mobilink in due course (the ?Merger?).
? The Transaction is expected to close within six months from today, subject to obtaining approvals from the relevant authorities in Pakistan and the satisfaction of customary closing conditions. The Merger is expected to close within 6 months from closing of the Transaction, subject to the satisfaction of customary closing conditions. After a four year lock-in period following the date of closing of the Acquisition Transaction, the Dhabi Group shareholders will have the option to put their shares of the merged company to VimpelCom/GTH, and VimpelCom/GTH will have the option to call the shares of the merged company held by the Dhabi Group shareholders, each at fair market value.
? For further information please refer to the investor presentation on www.vimpelcom.com which will be loaded at 13:30 CET today. VimpelCom and GTH will host an analyst and investor conference call at 14:00 CET today.
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- Ufone To Mock Mobilink's Ad With Faisal Qureshi In Funny Way
A large number of People in Pakistan was unhappy on viewing Mobilink's Ad of its new Jazz X phones with Nargis Fakhri in the popular Pakistani Newspapers last week. Nargis Fakhri's awkward pose on the front page of many a newspapers was really...
- Pta Has Given Blackberry Another Month For Negotiation
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div.aae { background-color: #157c9a; font-size:1.1em; margin:2px; border-radius:15px; padding:15px 0px; font-family:Helvetica; text-align:center; color:white; } div.aae:hover { background-color: #1e9bbf; font-size:1.2em; box-shadow:...
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