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Tag: warid

Uganda regulator approves Bharti's purchase of Warid Group

2013-05-09 02:00:00| Total Telecom industry news

Deal will boost Indian operator's position in Ugandan mobile market, increasing its share to 39%.

Tags: group purchase uganda regulator

Airtel to acquire Warid Uganda

2013-04-23 14:21:00| Telecompaper Headlines

(Telecompaper) Bharti Airtel said that it has entered into a definitive agreement with the Warid Group to fully acquire Warid Telecom Uganda. With the takeover, Airtel consolidates its position as the second largest mobile operator in the crowded Uganda mobile market, with a combined customer base of over 7.4 million and market share of over 39 percent. The agreement is subject to regulatory and statutory approvals. Airtel currently has 4.6 million customers in Uganda, while Warid counts 2.8 million customers in Uganda. No financial details of the takeover were announced.

Tags: uganda acquire airtel warid

Singtel to sell stake in Warid Telecom

2013-01-29 14:27:00| Telecompaper Headlines

(Telecompaper) Singtel has agreed to sell its 30 percent stake in the Pakistani operator Warid Telecom to the Abu Dhabi Group. This gives the latter 100 percent of Warid's shares. Singtel will receive USD 150 million plus a 7.5 percent share of the net proceeds from any future sale, public offering or merger of Warid. The cash consideration is payable in several tranches up to the third anniversary after completion of the deal. Closing is dependent on a number of conditions still, including approval from Warid's lenders. Singtel previously provided a guarantee of USD 90 million and equity undertaking of USD 51 million for a credit facility provided to Warid. After selling its stake in Warid, it will no longer be subject to these obligations. Singtel expects to book a loss of SGD 230 million on the sale.

Tags: sell telecom stake singtel

SingTel exiting Pakistan's Warid Telecom

2013-01-29 01:00:00| Total Telecom industry news

Sale of 30% stake back to Abu Dhabi-based parent to result in $186 million loss.

Tags: telecom exiting singtel pakistans

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