Pakistan competition watchdog approves PTCL’s $400 million deal to acquire Telenor

Pakistan competition watchdog approves PTCL’s $400 million deal to acquire Telenor

KARACHI: Pakistan Telecommunication Company Limited (PTCL) on Wednesday applauded the Competition Commission of Pakistan (CCP) for granting approval to acquire Telenor Pakistan, calling the deal a pivotal step for the country’s telecom sector.

The decision concludes a protracted regulatory process for the $400 million transaction, which will merge PTCL’s mobile arm Ufone with Telenor Pakistan to create the country’s second-largest mobile operator.

The CCP subjected the merger to a Phase II review, citing concerns over market dominance, transparency, and funding sources, before granting approval with conditions.

“We highly appreciate the Commission’s thoroughness in safeguarding the future outlook and long-term sustainability of Pakistan’s telecom sector,” the PTCL said in a statement. “This intra-sector consolidation is a pivotal step forward for Pakistan’s telecom industry, which will draw strengths from both PTML (Ufone) and Telenor.”