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We learned earlier that Warid is looking to be bought by foreign investors — where Kuwait-based MTC offered $805MM for the company. The other runners were Vodafone UK and MTN (South Africa)

Financial Times now reports that SingTel is likely to purchase 30% stake in the operator in a deal which will value Warid Telecom at $1Billion.

$1 Billion? Really? Really really?

A person close to the deal said this deal could be signed “…as early as next month”

Thoughts
I’ll say its too bad Singtel is not getting a majority share - honestly I would rather see them drive the company forward seeing the absolutely fantastic job they’ve done in Singapore itself.