Pakistan
In 2004, Warid Telecom International LLC, purchased a license for operating a nationwide mobile telephony network, (WLL) and long distance international (LDI) for $291 million US dollars and was the first venture of Warid Telecom International LLC. The licence was bid for and acquired by a team led by Bashir Tahir the former CEO of the Abu Dhabi Group, which is the parent company of all Warid operations.
Warid Pakistan launched its services in May 2005. Within 80 days of launch Warid Pakistan claims to have attracted more than 1 million. users.
On June 30, 2007, Singapore Telecommunications Limited (SingTel) and Warid Telecom announced that they have entered into a definitive agreement subsequent to which SingTel will acquire a 30 per cent equity stake in Warid Telecom for an estimated $758 million — valuing the company at an enterprise value of $2.9 billion.
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