Telenor Pakistan | Pakistan

Pakistan Telecommunication Company Limited (PTCL) on Wednesday completed the acquisition of 100 percent of the issued share capital of Telenor Pakistan and Orion Towers, said a press release. The Pakistan Tele­communication Authority (PTA) approved the merger of Telenor Pak­i­stan with PTCL earlier in December. The regulator, however, imposed strict conditions to prevent abuse of market power and to bind the new entity to invest in upcoming spectrum auctions. “Telenor Pakistan and Orion Towers will operate as 100% owned subsidiaries of PTCL, alongside Pak Telecom Mobile Limited (PTML) commonly known as Ufone 4G, and U Microfinance Bank.” However, Telenor Pakistan will continue to operate as a separate entity during the transition period, said the statement, adding that PTML and Telenor will then be merged as a single entity in “due course of time”, subject to regulatory approvals. Acknowledging the contribution of Telenor to Pakistan’s telecom landscape, PTCL said the telco “played a defining role in elevatin...