SingTel to take 30 % of Warid

Singapore Telecommuncations (SingTel) is set to acquire a significant take in one of Pakistan's leading mobile phone operators, The Financial Times said on Tuesday.
Citing people familiar with the situation, the report said SingTel has emerged as the frontrunner and is in advanced talks to purchase about 30 per cent of Warid.
"A deal between SingTel and Warid could be signed as early as next month," a source familiar with the talks was quoted as saying. Warid said it was assessing a number of offers.
NTM of South Africa and Vodafone of the UK have also expressed interest in acquiring a stake in Warid, the report said, although SingTel is said to be the strong favourite.
SingTel's investments include stakes in operations in Thailand, Indonesia and Australia and a 30 per cent holding in Bharti, India's leading mobile phone group.
Warid is owned by the Abu Dhabi Group, which began operations in Pakistan two years ago.