Jan-13, Co estimates that a loss of about $230m will be incurred as a result of selling its entire 30% stake in Pakistan's money losing Warid Telecom (Warid). The invs hasn't generated returns for Co since it was acquired in 2007 for US$758m. Co will receive US$150m in cash and 7.5% of proceeds from any future sale or public offering of Warid. This divestment is viewed positively, as it reduces further losses and commitments on Co's end. Dec-12, Co has via its subsi Advanced Wireless Network Co, been officially granted the license to operate 2.1GHz from the National Broadcasting & Telecommunications Commission.

1H13 revenue slipped 1.19% as earnings inched up slightly by 0.85%. Co will continue to benefit from the increased demand for smartphones and tablets. Its net gearing still remains healthy and low at 26%. (30/01/13-LK)