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Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has officially denied reports suggesting that it is responsible for delaying the Ufone-Telenor Pakistan merger. In a statement issued today, the SECP clarified that it has not received any transaction related to this merger for approval and that claims of procedural delays on its part are unfounded.
The Securities and Exchange Commission of Pakistan (SECP) has rebutted recent media reports, clarifying that it is not responsible for delaying the merger. The SECP has clarified that it grants permission only for schemes of arrangement that pertain to minor enterprises and certain public sector entities under federal supervision.
The commission provides feedback on court petitions and presently indicates that there are no outstanding petitions related to this telecommunications merger. The regulatory authority affirmed its commitment to expeditious and transparent procedures by dismissing the assertion that competing mobile operators had impeded the Ufone-Telenor merger process.
The Securities and Exchange Commission of Pakistan (SECP) has denied media reports of delays, noting that there are no outstanding clearances from their end. The Ufone-Telenor merger faces delays because the Competition Commission of Pakistan (CCP) needs to approve the merger while setting requirements that must be resolved.
According to sources at the Pakistan Telecommunication Authority (PTA), the merger’s final regulatory obstacle will be handled by the CCP, rather than the SECP. Industry experts warn that extended waiting times will create adverse effects for international investment in addition to limiting Pakistan’s telecommunications sector expansion.
The final outcome of this merger will have a significant impact on market competition dynamics while also influencing the present delay in the 5G spectrum auction process.
