“Recently there have been misplaced news items in certain section of the press that Warid Telecom Pakistan may be up for sale because of the shrinking interest of sponsors relating to the market conditions in Pakistan.

Finally, Dhabi group has disclosed that it is in talks with several Pakistani operators including Telenor and PTCL to sell its part of the shares. The spokesman did not talk about the value of deal but rather confirmed its intention to offload its share along with management control.

Dhabi group has sold 70% shares of its Bangladeshi operations to Airtel India. All the formalities will be completed in next 10 days. Bashir A Tahir, CEO Dhabi Group and Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel sealed the deal in Delhi on Tuesday. Indian group will invest $300 million in Warid Telecom [...]

The Dhabi Group and the Essar Group today announced the signing of definitive agreements for an investment by Essar Group into the telecom assets of the Dhabi Group in Uganda and Republic of Congo. The agreements were signed by His Highness Sheikh Nahyan Mabarak Al Nahyan on behalf of the Dhabi Group and Mr Prashant Ruia, Group Chief Executive Essar Group in Abu Dhabi today. The enterprise valuation of the Uganda and Congo operations is collectively valued at USD 318 million.

Dhabi Group seems to have lost interest in Telecom business which it started with Warid Telecom Pvt Ltd, Pakistan back in 2005. After reported meetings between Dhabi Group and Oslo based Telenor during the last couple of weeks a decision has finally been reached through which Telenor will buy 63% stakes in Warid Telecom Pakistan for $ US 1.3 Billion while 30% of the shares will be held by Singapore based SingTel despite of their repeated efforts to get 31% more share in the company. Whereas 7% share will remain in the pockets of Dhabi Group but later they will also be bought either by Telenor or SingTel which will depend upon the price which one offers the most.

Warid telecom has long been facing financial and management issues. Started in 2005 with all the new ideas and energetic team the company could not excel ahead right from 2007