CCP approves Mobilink-Warid merger

ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the merger of Pakistan Mobile Communications Limited (Mobilink) and Warid Telecom (Private) Limited (Warid), a statement said. 

The statement said this approval is the first of the four required approvals from the local regulatory bodies, including Pakistan Telecommunication Authority, Securities and Exchange Commission Pakistan and the State Bank of Pakistan. 

“We are pleased that the Competition Commission of Pakistan has approved our request to merge the two businesses,” Chief Executive Officer Jean-Yves Charlier of VimpelCom said. “The combination of Mobilink and Warid will be a positive step for the development of technology and communications services in Pakistan.”

After the merger, the future entity will serve more than 45 million customers.

“We are delighted to receive the CCP’s approval, which is an important milestone in the merger process and paves the way for other regulatory approvals,” President and CEO Jeffrey Hedberg of Mobilink said. “We appreciate the role played by the CCP during this process and we look forward to progressing with the remaining regulatory bodies in the coming days.”

The transaction is the first major merger in the mobile telecommunications sector in Pakistan.

“We are happy on receiving the approval from the Competition Commission and thankful to the Authority for their wisdom and support,” Chairman Board Executive Committee Adeel Bajwa of Warid Telecom Pakistan said. “The authority has shown great professionalism in reaching this determination after thorough deliberations and detailed evaluation.”