Competition Commission Approves Telenor Acquisition by Ufone/PTCL
In a significant development, the Competition Commission of Pakistan (CCP) has approved Phase One of the acquisition process of Telenor by Ufone/PTCL. This milestone marks a major step forward in the consolidation of Pakistan’s telecom industry.
Both companies have been notified of this development, paving the way for their merger into a single entity. The companies have been directed to complete the necessary procedures and documents for Phase Two, which is expected to be completed in the coming months.
Once the process is complete, the merged company will serve over 6.7 million mobile phone users, including Telenor’s 3.4 million customers in Pakistan. This merger is expected to boost competition and coverage in Pakistan’s mobile phone industry, leading to improved services and options for consumers.
The merged company will have a stronger presence in the market, enabling it to invest in network expansion, modernization, and innovation, ultimately benefiting mobile phone users across Pakistan. This development is a positive step towards a more robust and competitive telecom industry in Pakistan.”
REad More: https://flare.pk/2024/05/iphone-sales-decline-a-cause-for-concern-or-catalyst-for-change/
