ISLAMABAD (Kashmir English): The Pakistan Telecommunication Company Limited (PTCL) on Wednesday officially took over the control of Telenor Pakistan (Private) Limited, the move expected to reshape the country’s telecom sector.
The company announced that it has acquired 100 percent shares of Telenor Pakistan, and it will now operate as a subsidiary company of PTCL.
PTCL signed a share purchase agreement with Norway’s Telenor Group in December 2023 to acquire 100 percent stakes in Telenor Pakistan and Orion Towers (Private) Limited for $400 million.
The acquisition will see PTCL’s mobile arm, Ufone, merge with Telenor Pakistan to create the country’s second-largest mobile operator.
During an interim period, Telenor will continue to operate as a separate legal entity. The merger between Ufone and Telenor is expected to be finalized once all essential regulatory approvals are obtained.
“It is to notify that PTCL on December 31, 2025, has acquired 100 percent of the shareholding of Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited, and shares have been duly transferred in the name of PTCL,” the company said in a stock filing to the Pakistan Stock Exchange (PSX).
Hatem Bamatraf, President and Group CEO of PTCL and Ufone, described the acquisition as a major milestone for the telecommunications sector in Pakistan.
PTCL has previously said the acquisition will help improve customer experience, enhance network quality and coverage, and enable the telecom sector to achieve greater efficiency by building resilient infrastructure and creating a more competitive landscape.
The deal is expected to boost Pakistan’s telecom landscape, which currently has four major operators but continues to face pressure from thin margins, high spectrum costs, and heavy capital expenditure requirements.
