Singapore Telecommunications is planning to take up a 30 per cent stake in Pakistan-based mobile phone operator Warid Telecom. The deal is likely to be valued at around $758 million and is expected to be signed by July 2007. The deal accords Warid an enterprise value of $2.9 billion. The purchase will help SingTel expand its operations in Pakistan. Vodafone and South Africa’s NTM were also reportedly interested in acquiring the stake in Warid.
