Pakistan Telecommunication Company Limited (PTCL) on Wednesday completed the acquisition of 100 percent of the issued share capital of Telenor Pakistan and Orion Towers, said a press release.
The Pakistan Telecommunication Authority (PTA) approved the merger of Telenor Pakistan with PTCL earlier in December.
The regulator, however, imposed strict conditions to prevent abuse of market power and to bind the new entity to invest in upcoming spectrum auctions.
“Telenor Pakistan and Orion Towers will operate as 100% owned subsidiaries of PTCL, alongside Pak Telecom Mobile Limited (PTML) commonly known as Ufone 4G, and U Microfinance Bank.”
However, Telenor Pakistan will continue to operate as a separate entity during the transition period, said the statement, adding that PTML and Telenor will then be merged as a single entity in “due course of time”, subject to regulatory approvals.
Acknowledging the contribution of Telenor to Pakistan’s telecom landscape, PTCL said the telco “played a defining role in elevating service quality and expanding connectivity over nearly two decades”.
“This milestone brings together complementary strengths to create a platform with a stronger focus on customer centricity, broader reach, and accelerated innovation,” added the press release.
“This is a proud moment for PTCL and a significant milestone for Pakistan’s telecom sector. Our focus remains on delivering a customer-centric, seamless, and high-quality services for improvement in user experience as we bring combined strengths at scale upon completion of regulatory approvals,“ said the press release, quoting President & Chief Executive Officer PTCL and Ufone Hatem Bamatraf.
“Together, we will build a stronger, future-ready organisation that serves customers better, empowers its people, and advances Pakistan’s digital future,” he added.
In October, the policy board of PTCL accepted the terms and conditions set by the Competition Commission of Pakistan (CCP) for the merger with Telenor Pakistan.
