Sources familiar with the matter claim that the bidding process for Warid Telecom is going to kick off on Sept 30. Etisalat and Zong (China Mobile) are the main contenders for the Abu Dhabi based telecom operator. Both the firms are leaving no stone upturned to acquire Warid Telecom as it has a massive user base of 12 million.
At first, as many as four companies, including Mobilink, were keen to get Warid under their hood but ultimately only two of them have gone ahead to hire consultants for the buyout..
Since Zong has got smaller Average Revenue Per User (ARPU) in contrast to other networks, it is striving hard to grab Warid which would also assist it in enhancing its network.
Meanwhile, Etisalat already has the management shares of PTCL and Ufone and it is ambiguous whether Warid will be operated as a separate organization or merged after being sold out.
Abu Dhabi Group, the parent company of Warid, didn’t show interest in investing much in this venture when it experienced crunch.
Etisalat management has called upon the PTCL board of directors to discuss and finalize the Warid auction cost on Thursday.