Telenor Pakistan Acquired by PTCL in Major Telecom Consolidation Move

In a significant move for the Pakistani telecom sector, Telenor Group announces the sale of its entire Pakistan operations to PTCL, a leading integrated ICT company owned by e&. This deal marks the culmination of Telenor’s strategic review of its Pakistani business, initiated in July 2022.

Key Takeaways:

• Telenor sells its Pakistan operations, including its 45 million customer base, to PTCL for NOK 5.3 billion.
• The sale aligns with Telenor’s strategy to build market-leading players in Asia, focusing on its remaining operations in Bangladesh, Malaysia, and Thailand.
• PTCL, already owning Ufone, strengthens its position as the largest integrated telecom player in Pakistan.
• The deal is expected to be completed in 2024, subject to regulatory approvals.

Telenor CEO Sigve Brekke:

• “We are proud of Telenor Pakistan’s growth and contribution to the country’s telecom sector over the past 18 years.”
• “Selling to PTCL, the largest integrated ICT player, will benefit Pakistani consumers through further consolidation and opportunities.”

Petter-Børre Furberg, Head of Telenor Asia:

• “This sale allows us to focus on building and strengthening our number one positions in other Asian markets.”
• “We thank the dedicated team at Telenor Pakistan and believe they will continue to serve customers well under PTCL.”

Implications:

• This consolidation is expected to lead to a stronger and more competitive telecom landscape in Pakistan.
• PTCL gains significant market share and expands its service offerings to customers.
• Telenor refocuses its Asian strategy on its remaining market-leading businesses.

The sale of Telenor Pakistan marks a significant shift in the Pakistani telecom landscape, offering new opportunities for both PTCL and the industry as a whole.