The Pakistan Telecommunication Authority (“PTA”) has today approved the merger of Pakistan Mobile Communication Limited (“Mobilink”) and Warid Telecom (Private) Limited (“Warid”)*. This is yet another milestone in the regulatory process and follows the approval granted in March, 2016 by the Competition Commission of Pakistan. The deal remains subject to further regulatory approvals and other customary closing conditions.
Jeffrey Hedberg, President and CEO of Mobilink, said:
“We are pleased that the Pakistan Telecommunication Authority has approved the merger of Mobilink and Warid, marking a further important milestone in the regulatory process. I am confident that the combination of the two businesses will benefit customers through a best-in-class mobile and high-speed network, and contribute to the overall development of the telecommunications sector in Pakistan as an integral part of the economy. We look forward to bringing innovative technology solutions through world-class telecom services to our customers in the new combined entity.”
*The approval contains certain conditions.