Singapore Telecom Set to Buy Stake in Warid | Green & White

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Singapore Telecom Set to Buy Stake in Warid

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Osama A.

Osama runs a Social Media Marketing Agency and a Software Product Company. He has been involved in building online communities since 1997 and his major strengths are understanding how people choose to come together and work as strong cohesive units that believe in brands or causes. His team's flagship product offers highly innovative ways to get professional teams to work better together - resulting in significantly saved time in common tasks around getting people on the same page; and also resulting in a greater sense of trust among virtual teammates. You may contact him at hashmi@cdfsoftware.com with inquiries.

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.

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