The Pakistan Telecommunication Authority (PTA) has granted conditional approval to the PTCL Group for the acquisition of Telenor Pakistan, marking a major advancement in the long-pending merger and acquisition process.
Officials told ProPakistani that PTA had asked PTCL for a formal response on whether it would accept the regulator’s conditions for the merger and acquisition process. PTCL gave unconditional acceptance, removing a major regulatory obstacle that had delayed the deal for months.
Sources added that PTA has attached nearly 30 to 40 conditions to the agreement, covering regulatory, financial, structural, and compliance requirements. All these conditions must be met before the transaction can proceed to the final approval stage.
PTA sources said the next phase requires Telenor Pakistan to approach the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) to apply for the change of directors and other statutory approvals. This step is necessary before initiating the legal merger process between the entities.
Following these regulatory clearances, the two companies, Telenor Pakistan and PTCL, will form a unified structure, after which Telenor will approach PTA for formal merger approval. The authority will then evaluate whether all conditions have been met before issuing a final decision.
The High Court will ultimately issue the amalgamation order, completing the legal framework of the transaction. The deal is expected to reshape competition within Pakistan’s telecom sector, particularly as operators prepare for future spectrum auctions and face increasing pressure to invest in digital infrastructure.
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