VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan and Bank Alfalah (Dhabi Group shareholders), have completed the transaction to merge Pakistan Mobile Communications Limited (Mobilink) and Warid Telecom (Warid), creating a Pakistani next-generation digital telecommunications provider, the company said.
VimpelCom, GTH and Dhabi Group announced the agreement to combine their Pakistan telecommunication businesses on 26 November 2015. The completion of the transaction follows regulatory approval from all the relevant authorities and the subsequent exchange of shares. Mobilink has completed the acquisition of 100 percent of Warid´s shares, and the Dhabi Group Shareholders have acquired 15 percent of the shares of Mobilink.
With the completion of the merger transaction, Mobilink enters the next major phase of its transformation and CEO Jeffrey Hedberg will hand over his role at Mobilink and Warid to Aamir Ibrahim, currently chief commercial officer and deputy CEO of Mobilink.
On conclusion of the legal merger, the combined entity will have a single board and management structure.
The legal merger of the two companies, which will result in one merged legal entity having the same board, and management described above, is expected to be completed within approximately six months, subject to the fulfillment of the required legal processes in Pakistan.