VimpelCom and Dhabi Group announced the completion of the Jazz and Warid transaction
Combined entity to serve over 63 million customers as Pakistan’s leading high-speed Jazz network
Amsterdam/Cairo/Islamabad (1 July 2016) – VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan and Bank Alfalah (Dhabi Group shareholders), today announced the completion of the transaction to merge Pakistan Mobile Communications Limited (Jazz) and Warid Telecom (Warid), creating Pakistan’s next-generation digital telecommunications provider.
Over 63 million customers in Pakistan will benefit from high-speed mobile telecommunications and a best-in-class digital mobile network. The combined Jazz and Warid entity will be the leading telecommunications provider of 2G, 3G, and 4G LTE services in Pakistan, providing a higher quality national voice and data coverage, faster downloads, and a wider portfolio of products and services.
Jean-Yves Charlier, Chief Executive Officer of VimpelCom, said: “VimpelCom continues to make significant progress against its transformation program. This market consolidation represents a further step in our strategy to strengthen our position in the markets in which we operate. As the VimpelCom Group focuses on an ambitious digital transformation, we are investing in revolutionizing our technology core and product portfolio. We look forward to bringing innovative new products and services to our customers in Pakistan.”
Chairman of Dhabi Group, His Highness Sheikh Nahayan Mabarak Al Nahayan, said: “I am very happy that we have arrived at this milestone today which marks a unique moment for the Pakistan telecom sector. It is very positive news for Pakistan’s economy. The Dhabi Group remains committed to Pakistan and its economic progress and I would like to thank all the relevant authorities for their support in closing this transaction. I am confident that together, the combined businesses will continue to deliver excellence to their customers while contributing positively to the business environment in Pakistan.”
Mobilink and Warid will benefit from VimpelCom’s USD 1 billion investment into building one of the largest and most ambitious IT infrastructures in the industry. The Group’s new digital systems will enable faster roll-out of new local products and services, particularly in the areas of mobile entertainment, communications, the Internet of Things, and mobile financial services. Through this, Pakistan’s digital development will be elevated to the next level, further reducing the digital divide.
VimpelCom, GTH, and Dhabi Group announced the agreement to combine their Pakistan telecommunication businesses on 26 November 2015. The completion of the transaction follows regulatory approval from all the relevant authorities and the subsequent exchange of shares. Mobilink has completed the acquisition of 100 percent of Warid’s shares, and the Dhabi Group Shareholders have acquired 15 percent of the shares of Jazz.
For further information please see the presentation from 26 November 2015- The Group-wide contract with Ericsson is for a seven-year period with an option to extend. Link to the press release
- Subject to potential post-completion earn-out adjustments against a pre-agreed formula
- Approval, in some cases, is subject to specified remedial actions or conditions.
3 Comments
This comment has been removed by a blog administrator.
ReplyDeleteAbout Google
ReplyDeleteI'M NOW FULFILL FINANCIALLY BECAUSE OF THE LOAN I GOT FROM LFDS .I would like to bring this to the notice of the public about how i came in contact with LFDS after i lost my job and being denied loan by my bank and other financial institution due to my credit score. I could not pay my children's fees. I was behind on bills, about to be thrown out of the house due to my inability to pay my rent, It was during this period my kids were taken from me by foster care. Then i set out to seek for funds online where i lost $3,670 that i borrowed from friends which i was rip off by two online loan companies. Until i read about:Le_Meridian Funding Service (lfdsloans@outlook.com / lfdsloans@lemeridianfds.com) somewhere on the internet, Still wasn't convince because of what i have been through until a relative of mine who is a clergy also told me about the ongoing loan scheme of LFDS at a very low interest rate of 1.9%% and lovely repayment terms without penalty for default of payment. I have no choice than to also contact them which i did through text +1-989-394-3740 and Mr Benjamin responded back to me That day was the I'M best and greatest day of my life which can never be forgotten when i receive a credit alert of $400,000.00 Usd loan amount i applied for. I utilized the loan effectively to pay up my debts and to start up a business and today i and my kids are so happy and fulfill. You can as well contact them through email: (lfdsloans@outlook.com / lfdsloans@lemeridianfds.com) WhatsApptext helpline: +1-989-394-3740 Why am i doing this? I am doing this to save as many that are in need of a loan not to be victim of scams on the internet. Thanks and God bless you all, I'm Oleksander Artem from Horizon Park BC , Ukrain.
ReplyDelete