Pakistan Telecommunication Company Limited (PTCL) has announced the acquisition of Telenor Pakistan for an enterprise value of Rs108 billion on a cash-free debt-free basis. The share purchase agreement, which grants PTCL a 100% stake in Telenor, was signed, marking a significant milestone in the telecom industry.
PTCL sees this acquisition as a strategic move that brings together the strengths and expertise of both PTCL Group and Telenor Pakistan. The synergy is expected to drive innovation, broaden the customer base, and accelerate the digital transformation journey. The strategic growth resulting from this acquisition aims to solidify PTCL’s position as a key player in the telecom sector.
Hatem Bamatraf, President and Group CEO of PTCL & PTML, expressed confidence in the strategic synergies, emphasizing the enhanced value for customers and stakeholders. The combined entity is anticipated to revolutionize the telecom industry in Pakistan, offering better coverage, seamless data experience, and a wide range of products and services.
Hatem Dowidar, Group CEO, highlighted the acquisition as a significant opportunity for market consolidation, enabling increased investment in developing the best next-generation network in Pakistan. The move aligns with the commitment to advancing the country’s telecom sector, delivering added value to customers and shareholders. The completion of the acquisition is subject to regulatory approvals and customary closing conditions.
