The PTCL Telenor merger deal is still on hold because the Competition Commission of Pakistan (CCP) is still in the process of reviewing the merger over the acquisition of Telenor Pakistan by PTCL. During the deal that was initially announced in December 2023, PTCL acquired 100 percent of Telenor Pakistan and adjoining tower assets in a PKR 108 billion deal.
PTCL Telenor Merger Details
Under the agreement, PTCL — a subsidiary of the UAE’s e& group — will acquire Telenor Pakistan through a cash-free, debt-free transaction. The acquisition also includes Orion Towers. Financing is backed by a US $400 million loan arranged by the International Finance Corporation (IFC) along with Silk Road Fund and British International Investment.
Telenor Pakistan currently serves about 43 million subscribers, including 26 million on 4G/LTE, and holds around 22% market share.
Regulatory Concerns
The Telenor-PTCL merger update shows the CCP’s main objections include:
- PTCL and Ufone’s financial health and ability to manage the merged entity.
- Non clear post-merger investment plan and up-grading IT infrastructure timeline.
- Possible impact on telecom market competition in Pakistan.
During recent public hearings, PTCL failed to fully address CCP queries about its proposed US $1 billion investment, funding details, and operational integration plans. PTCL has sought more time to submit a revised business strategy.
It was expected to end in mid-2025, PTCL Telenor merger has been moved to the second half of 2025 awaiting CCP approval.
