Pakistan operator PTCL issued a binding offer for the acquisition of rival Warid Telecom, with local reports noting that the filing made with the Karachi Stock Exchange did not detail the terms of the deal.
The move is not surprising, with previous reports putting Etisalat-owned PTCL in the driving seat for a bid. Other companies previously mooted as buyers included China Mobile and VimpelCom.
According to GSMA Intelligence figures, PTCL’s Ufone is already the third biggest player in the market (24.8 million subscribers), behind Mobilink (37.4 million) and Telenor Pakistan (32.3 million) and ahead of China Mobile’s Zong (22.3 million).
Adding fifth-placed Warid’s 12.8 million subscribers would put PTCL on a par with Mobilink.