Wateen Hosts Business Analysts Briefing

December 22, Karachi: Wateen Telecom held a business analyst briefing in Karachi on 22nd December 2010. The briefing was attended by major brokers of Karachi Stock Exchange, representative of mutual funds, investment companies and financial institutions.

Mr. Naeem Zamindar, CEO Wateen Telecom, expressed his gratitude to all the investors and stakeholders for their interests and active participation. He briefed them about Wateen's financial performance for the first quarter (ended September 30th, 2010), gave a thorough analysis of the opportunity and challenges that it faces, its broad product portfolio, strong market positioning and financial viability and future outlook with brief insights of Wateen's business plans for the next 12 to 18 months.

Speaking on the occasion, Mr. Zamindar said "Our strategy is twofold. First is to monetize Wateen's positioning and strategic asset base, the largest fiber optic network with over 11,000 Kms of fiber laid across Pakistan, the largest WiMax network, a cable TV, telephony and internet network, the largest supplier of satellite capacity, a long distance international calling business and a multi-national corporate solution and system integration business. Secondly, we will rationalize our cost structure so that we can grow profitably. With clear market leadership in converged technology and product offering, Wateen will define the future landscape of ICT in Pakistan." Wateen Telecom is Pakistan's largest alternative communications provider in the country giving services to the financial, telecom, media, IT & education sectors.

Telenor Does Not Support Proposed VimpelCom Acquisition of Weather Investments

As formally communicated to VimpelCom Ltd.'s Chairman yesterday, based on the information available to it and recent developments, Telenor ASA has determined that the proposed acquisition by VimpelCom Ltd. of Weather Investments S.p.A. is not in the best interests of VimpelCom shareholders and therefore does not intend to support the transaction.

"We strongly support VimpelCom's expansion in accordance with the principles agreed at the time the company was created. However, in our capacity as a shareholder of VimpelCom Ltd., we do not believe this transaction makes strategic or financial sense for VimpelCom's shareholders," said Telenor spokesman Dag Melgaard.

Telenor ASA holds a 36% voting and 39.6% economic interest in VimpelCom Ltd.

Wi-tribe Ranked Pakistan’s No. 1 Broadband Company

In its 2010 annual report, Pakistan Telecommunication Authority (PTA) announced that wi-tribe Pakistan successfully ranked number one in both the ‘Technology Neutral’ and ‘Technology-wise’ categories for highest Quality of Service,

despite being the youngest broadband company, after just over one year of launching commercial services. PTA’s acknowledgment of wi-tribe’s service quality emphasizes that the company is passionate about delivering nothing short of excellence to its customers.

To celebrate this achievement, PTA Chairman, Dr. Mohammed Yaseen, was invited by wi-tribe Pakistan’s CEO, Mustafa Peracha and his team for a cake-cutting ceremony at wi-tribe’s head office in Islamabad. During the ceremony, wi-tribe’s CEO Mustafa Peracha expressed his delight on the recent achievement, stating, “I am elated about wi-tribe’s success in Pakistan. I’m also thankful to PTA for recognizing our effort to take broadband to the next level.”

On the team’s effort he said, “Today, I proudly share wi-tribe’s feat with my dedicated team, our community, customers and partners, who have continuously extending their trust and support. We aim to deliver an exceptional and personalized broadband experience to our customers, and believe in constant evolution, which will continue to reflect in all our offerings.”

In addition to recognizing wi-tribe’s quality-driven approach, the report also concluded that wi-tribe is the fastest growing broadband operator in Pakistan, successfully delivering high speed internet to customers in all its cities of operation.

During the last five years, Pakistan’s broadband subscriber base has increased by leaps and bounds. People from all walks of life, including professionals, students, academics and corporates are all finding high speed internet to be essential towards their respective progression. wi-tribe realizes the need to serve growing demands, with no compromise on quality of service.

With a focus on delivering high quality broadband internet across its network of operations, wi-tribe enables instant connectivity with its plug ‘n’ play devices, offering the latest in affordable internet technology.