SingTel is taking up a 30 per cent stake in Pakistan-based Warid elecom for a reported $758 million.

SingTel is taking up a 30 per cent stake in Pakistan-based Warid Telecom for a reported $758 million. The deal accords Warid an enterprise value of $2.9 billion. The purchase will help SingTel expand its operations in Pakistan. Warid has a subscriber base of around 10 million, and a market share of 17 per cent. The deal is expected to be signed before August-end 2007.

Vodafone and South Africa’s NTM were also reportedly interested in acquiring stake in Warid.