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Amsterdam-based telecoms company VimpleCom Ltd said it along with its associates agreed Thursday to merge their Pakistan Mobile Communications Ltd (Mobilink) and Warid Telecom (Pvt) Ltd to boost their network and expand mobile financial services.
The merger is expected to create capital and operating expenditure synergies of about $500 million, the companies said in a statement on Thursday.
Mobilink Chief Executive Jeffrey Hedberg will become the CEO of the combined business, the statement said.
Source: Reuters
