The Pakistani subsidiary of Vimpelcom Ltd. buy rival Warid

Moscow. On 26 November. Pakistani mobile operator Mobilink, controlled by Vimpelcom Ltd., acquires 100% stake in its competitor Warid in exchange for their shares. Warid owners – the shareholders of the Dhabi Group will receive 15% Mobilink.

Warid will be merged with Mobilink, it is told in message Vimpelcom.

The closing of the transaction is expected within 6 months. Vimpelcom evaluates synergies in CAPEX and operating costs of $500 million.

Total revenue Mobilink and Warid for the 12 months to September this year is estimated at $1.4 billion.