SingTel to sell 30-percent Pakistan telco firm stake for US$150 million

It will also get a 7.5-percent share of any net proceeds if Warid is either sold again, merged or is part of a public offering.

SingTel's holding will be sold to Warid Telecom Pakistan, a shareholder of the Abu Dhabi Group, which owns the other 70 percent of Warid Telecom.

“The sale of SingTel's stake in Warid follows a strategic review of the investment, its competitive position and opportunity,” SingTel said yesterday. SingTel expects to take a big hit on the deal, it said yesterday.

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