Warid Merge Into Mobilink

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Warid Merge Into Mobilink
Warid Merge Into Mobilink

Warid Merge Into Mobilink

Combined Mobilink and Warid Telecom business to serve over 45 million mobile customers and will become the leading high-speed mobile network in Pakistan

VimpelCom Ltd. (“VimpelCom”) and Global Telecom Holding S.A.E. (“GTH”), together with Warid Telecom Pakistan LLC and Bank Alfalah Limited (“Dhabi Group shareholders”), have today reached an agreement to merge their Pakistan telecom businesses. The merger of Pakistan Mobile Communications Limited (“Mobilink”) and Warid Telecom (Private) Limited (“Warid”) will see the combined entity serving 45 million customers. The transaction is the first merger in the mobile telecommunications sector in Pakistan.

Warid Merge Into Mobilink.

 

 

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”).
  • Warid Merge Into Mobilink.
  • 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.

Warid Merge Into Mobilink.

About Global Telecom Holding

GTH, which is 51.9% owned by VimpelCom Ltd., is a leading international telecommunications company operating mobile networks in high growth markets in Africa and Asia, having a total population under license of approximately 408 million as of September 30, 2015. GTH operates mobile networks in Algeria (“Djezzy”), Pakistan (“Mobilink”), and Bangladesh (“Banglalink”). GTH reached more than 84 million customers as of September 30, 2015. GTH is traded on the Egyptian Exchange under the symbol (GTHE.EY), and on the London Stock Exchange, its GDRs are traded under the symbol (GLTD:LI). For more information visit: http://www.gtelecom.com.

Warid Merge Into Mobilink.

 

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