Telenor Pakistan is currently in talks with Wateen Telecom for 100% acquisition as reported by ProPakistani recently. As per the details, both Mobilink and Telenor persisted in separate acquisitions with Wateen. However, nothing has been finalized officially as of now.
Mobilink left the discussion for the later stage after bringing the matter on the table. However, Telenor continued their efforts in the last 2 months and they went ahead with a formal offer to close a deal with Wateen Telecom. According to the sources, the entire deal was negotiated in Oslo, Norway.
Confirmation from Telenor and Wateen Telecom
When ProPakistani approached Wateen, their source confirmed the development while stating that the deal is shaping in the right direction. However, the company is waiting for an official confirmation on the deal from Oslo.
Chief Corporate Affairs and Strategy Officer Telenor Pakistan, Muhammad Aslam Hayat, did not confirm the development though. He said that the company has always looked to explore opportunities for collaboration and diversification. In addition, he asserted that some of the deals materialize while some do not. One of the sources of Telenor confirmed that the company has remained in talks but things are not finalized yet.
It is pertinent to mention that the prime customer of Wateen i.e. Warid will get offloaded to TWA (TransWorld Associates, Mobilink’s sister concern that has fiber optic network in Pakistan) after the merger.
Wateen Telecom is currently waiting on the official response on all these developments from Oslo. Either the deal could strike or there might be no development at all. In both cases, we will update you about the future developments as soon as there will be any.
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