Warid Pakistan

This article is about the mobile network operator in Pakistan. For Warid Telecom International, see Warid Telecom.
Warid
Native name
وارد
Company typeTelecommunication operator
IndustryTelecommunication
Founded2004
Defunct26 November 2015
FateMerged with Jazz Pakistan
SuccessorJazz
ProductsMobile services
Data services
Mobile banking
Blackberry solution
Websitewaridtel.com

Warid (Arabic: وريد Urdu: وارد) was a GSM, HSPA+ and LTE based mobile operator in Pakistan. It commenced commercial operations on May 23, 2005 by the Abu Dhabi Group.

Warid Pakistan was Pakistan's fourth largest GSM mobile service provider and fifth largest mobile service in terms of subscriber base of over 12.9 million.[1] It has a market share of 9% among cellular operators.[2]

On November 26, 2015 VimpelCom and Dhabi Group agreed to merge Mobilink and Warid Pakistan into a single company.[3] On January 6, 2017 the combined CEO of Mobilink and Warid Pakistan announced the launch of new brand Jazz.[4] Mobilink ceased to exist on January 10, 2017 whereas Warid Pakistan as a brand continued for a year.[5]

History

The Pakistan Telecommunication Authority awarded two mobile telephony licenses to Telenor Pakistan and Space Telecom on April 24, 2004.[6] The license for Space Telecom was cancelled after it missed a dead line to make a 50% down payment of the offered price. Thereafter PTA offered next highest bid winner company, Warid Pakistan.[7]

The license was bid and acquired through parent company of Warid Pakistan, Abu Dhabi Group led by the then CEO Bashir Tahir for US$291 million.

On May 23, 2005 Warid Pakistan commercially started operating. Mr Hamid Farooq is appointed as the CEO of the company. Initially it covered 28 major cities of the country, which is so far the largest coverage in the first phase of roll-out by the first investment of US$150 million. Within 80 days, Warid Pakistan secured 1 million customers with 7% market share.[8]

In second phase of investment of US$1 billion, Warid Pakistan launched operations in other cities of Pakistan. It secured another 3.4 million subscribers with 10% market share. The first anniversary of Warid Pakistan marked 9.7 million subscribers.

In 2007, Singapore Telecommunications bought a 30-per cent stake in Warid Pakistan for about $758 million. That stake purchase gave Warid Pakistan an enterprise value of about $2.5 billion.

Warid Pakistan's first CEO Hamid Farooq resigned in November 2007. Marwan Zawaydeh joined the company as the second CEO. Warid Pakistan further invested US$1 billion in network expansion by the end of 2009.

Warid Pakistan got a new CEO Muneer Farooqi in October 2012.

SingTel sold back that stake in January 2013 for $150 million and a right to receive 7.5 per cent of the net proceeds from any future sale, public offering, or merger of Warid Pakistan.[9][10]

Warid Pakistan previously announced its merger with Mobilink in November 2015. The case was under review at Pakistan Telecommunication Authority. After scrutiny PTA finally approved the merger in July 2016. The companies have become a single brand.[11]

See also

References

  1. ^ "Telecommunications: Zong overtakes Ufone as CMOs' market share changes". Retrieved 19 November 2014.
  2. ^ Bilal Brohi – Agencies. "Warid Pakistan up for sale: sources". Retrieved 19 November 2014.
  3. ^ "Mobilink, Warid Pakistan announce merger". DAWN. November 26, 2015. Retrieved November 27, 2015.
  4. ^ "Mobilink and Warid Pakistan are now one happy family — but what's in it for customers?". DAWN.COM. 2016-07-23. Retrieved 2017-01-10.
  5. ^ "It's Official, Mobilink and Warid Pakistan Rebranded to Jazz". pakorbit.com. January 10, 2017.
  6. ^ RCR Wireless News. "Pakistan awards two new mobile licenses". RCR Wireless News. Retrieved 19 November 2014.
  7. ^ "Space Telecom bid stands cancelled: Cell phone licence". Retrieved 19 November 2014.
  8. ^ "News Center". Ericsson.com. Retrieved 19 November 2014.
  9. ^ "Abu Dhabi buys Warid Pakistan stake". Emirates 24/7. Reuters. Retrieved 19 November 2014.
  10. ^ "Abu Dhabi Group now sole owner of Warid Pakistan". Retrieved 19 November 2014.
  11. ^ "Mobilink and Warid Pakistan are now one happy family — but what's in it for customers?". DAWN.COM. 2016-07-23. Retrieved 2017-01-10.