Etisalat, Warid end Pakistan merger talks

Dylan Bushell-Embling
06 Mar 2014
00:00
News
Daily News

Telecom mergers can be difficult to negotiate, as demonstrated by the collapse of two attempted acquisitions from within the Asian telecom sector.

Talks between the UAE's Etisalat and Warid Telecom over a potential merger of the companies' Pakistani mobile units have fallen through, The News reported.

Citing a Warid official, the report states that Warid Telecom Pakistan decided to call off the negotiations after it was unable to secure a desired price.

China Mobile's Pakistani subsidiary, Zong, had also been interested in acquiring Warid Pakistan, but decided in October not to submit a bid.

Warid is Pakistan's smallest mobile operator, but still has a healthy 12.5 million subscribers.

In the Philippines meanwhile, PLDT chairman Manuel V. Pangilinan has expressed frustration that negotiations over the operator's attempted acquisition of a stake in broadcaster GMA Network have again stalled.

Rapplersaid PLDT's latest offer for 34% of the company has expired without GMA replying.

PLDT and GMA have held acquisition talks four different times since 2001, but each time something stood in the way. In 2012, PLDT attempted to acquire a 79% stake in the broadcaster, but negotiations were called off after the parties could not agree on acceptable terms.

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