ISLAMABAD: Zubair Kasuri: After a two-and-a-half-year regulatory and legal process, PTCL completes one of Pakistan’s largest telecom transactions as investor confidence strengthens Pakistan Telecommunication Company Limited (PTCL) and Ufone 4G have successfully completed the integration of Telenor Pakistan, marking one of the most significant corporate transactions in the country’s telecommunications sector. Industry observers believe the merger has not only reshaped the competitive landscape but has also strengthened investor confidence, enhanced PTCL Group’s market standing and reinforced its long-term growth prospects.
When the acquisition was announced in December 2023, PTCL’s share price was trading at around Rs22-24 on the Pakistan Stock Exchange. Following the completion of the transaction, the stock has climbed to around Rs71, reflecting a sharp increase in market confidence and making it one of the company’s strongest performances in recent years.
Analysts say the merger has significantly improved PTCL Group’s corporate profile, market valuation and strategic position. With the addition of Telenor Pakistan’s subscribers, network assets and operational capabilities, the Group has further consolidated its position as Pakistan’s second-largest mobile operator and is expected to benefit from operational efficiencies and future digital growth opportunities.
The transaction required approvals from multiple regulatory authorities and involved an extensive legal and administrative process spanning nearly two and a half years. During this period, the company completed numerous regulatory, compliance and legal requirements before reaching financial and operational close.
According to company sources, the successful completion of the transaction was supported by the efforts of Group Chief Regulatory Officer Naveed Khalid Butt, who led the regulatory engagement throughout the process. Sources said his team worked closely with relevant government institutions and regulators to secure the approvals required for the transaction.
Sources further said Group Chief Legal Officer & Company Secretary Zahida Awan and the legal team played an important role in handling the legal and regulatory aspects of the acquisition. The process involved coordination with the Securities and Exchange Commission of Pakistan (SECP), the Competition Commission of Pakistan (CCP), the Pakistan Telecommunication Authority (PTA) and other relevant government bodies, in addition to managing legal proceedings associated with the transaction.
Telecom analysts believe the successful integration will strengthen PTCL Group’s financial position, expand its customer base, improve network efficiencies and support future investments in next-generation digital infrastructure, including 5G. They say the completion of the transaction represents not only a major corporate milestone for PTCL Group but also an important development for Pakistan’s telecommunications industry and investment climate.
Company sources describe the successful completion of the acquisition as the result of sustained teamwork across the regulatory, legal, corporate and operational divisions, making it one of the most significant corporate achievements in Pakistan’s telecom sector in recent years.
