The Competition Commission of Pakistan (CCP) has granted Phase-II approval for the proposed acquisition of Telenor Pakistan by Pakistan Telecommunication Company Limited (PTCL), marking a major milestone in the consolidation of Pakistan’s telecom sector.
According to a notice to the Pakistan Stock Exchange (PSX), PTCL and Telenor Pakistan BV (TPBV) signed a Share Purchase Agreement (SPA) on August 14, 2024, covering the acquisition of the entire share capital of Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited.
PTCL expressed gratitude to the CCP for its detailed review and emphasized its commitment to regulatory compliance. The company noted that the merger will combine the strengths of Ufone and Telenor, promising improved customer experience, enhanced network quality, broader coverage, and innovative digital services.
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The CCP conducted one of the most comprehensive reviews in its history, applying the Substantial Lessening of Competition (SLC) Test across multiple sub-markets, including cellular services, fixed-line, LDI, leased lines, and IP bandwidth. Between September 2024 and August 2025, the Commission held several hearings and required extensive financial and operational data before concluding the transaction met legal standards.
While the approval marks a key step, the deal remains subject to corporate and regulatory clearances and the completion of necessary formalities.
Officials noted that the CCP faced both corporate and external pressure to expedite approval, but Chairman Dr. Kabir Sidhu insisted on transparency and adherence to statutory requirements. The process, which lasted 18 months, mirrors global precedents such as Vodafone/Three UK and Sprint/T-Mobile reviews, underscoring the scale and complexity of this telecom merger.
The consolidated entity is expected to strengthen nationwide connectivity, support digital innovation, and advance Pakistan’s vision of a digitally empowered economy.
