Abu Dhabi buys Warid Telecom stake

SingTel sells stake in Pakistan's Warid Telecom to a unit of the Abu Dhabi Group for $150m

Singapore Telecommunications said on Tuesday it has agreed to sell its entire 30 percent stake in Pakistan's Warid Telecom to a unit of the Abu Dhabi Group for $150 million.

"Excluding the value of any future transaction interest, the estimated loss on disposal will be approximately S$230 million ($186 million), including the foreign currency translation losses and transaction costs," SingTel said in a stock market filing.

 

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