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VimpelCom Walks Away from Talks to Buy Warid Telecom

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Russia's VimpelCom is the latest company to drop out of talks to buy Pakistan's Warid Telecom after it could not agree a price with the company's owners.

Warid Telecom is owned by the Abu Dhabi Group, which is understood to be seeking around USD1 billion for the Pakistan mobile network.

UAE based Etisalat also recently pulled out of talks to buy the company.

At the moment, it is still not clear what the Abu Dhabi Group will do with the Pakistan company. Talks with China Mobile's local arm, Zong also fell through last year.

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Tags: warid telecom  vimpelcom  Pakistan