Telenor open for in-market consolidation in Pakistan

Thu Nov 19, 2009 12:01pm EST

* Says in Pakistan for the long term

* Open for in-market consolidation

* No comment on reports it in talks to buy Warid Telecom

By Nicola Leske

BARCELONA, Nov 19 (Reuters) - Norwegian telecoms company Telenor (TEL.OL), which has operations in 13 countries in Europe and Asia, said it supported consolidation when asked about reports it was looking to buy a Pakistani rival.

"We we are in Pakistan for the long term," finance director Trond Westlie said on Thursday at an investor conference. "We are not making acqusitions that call for a lot a cash in the next two years," he said, adding he supported consolidation.

Asked about speculation Telenor was in talks about Warid Telecom, a Pakistani joint venture between Abu Dhabi Group & SingTel Group, Westlie said: "We have not commented on any discussion with anybody. We are aware the market is moving but we will not comment before we deliver".

The number of mobile phone subscribers in Pakistan stood at 95.9 million at end-September, according to the Pakistan Telecommunications Authority.

Mobilink, which belongs to Egypt's Orascom Telecom (ORTE.CA) is the dominant operator with a market share of 31.3 percent followed by Telenor with 22.6 percent.

Smaller players, apart from Warid Telecom, are Ufone, part of Emirates Telecommunications Group, and Mobile China's Zong.

Total wireless subscribers in Pakistan were seen reaching 132 million in 2013, according to consulting firm IE Market Research. (Editing by Dan Lalor)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.