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Pakistan’s telecom sector is poised for a major transformation as PTCL moves to acquire Telenor Pakistan, sources familiar with the matter confirmed. The deal, valued in billions of rupees, is expected to strengthen PTCL’s position ahead of the country’s first major 5G rollout.
Insiders revealed that the Competition Commission of Pakistan (CCP) referred the PTCL–Telenor merger to the Pakistan Telecommunication Authority (PTA) in October for a detailed sector review. PTA has already conducted hearings with all major telecom operators, Jazz, Zong, and Wateen, who voiced concerns about market competition and the potential impact of the merger.
Officials indicated that PTA is likely to issue the crucial No-Objection Certificate (NOC) by November 30, a key step that would clear an important regulatory hurdle. Once the NOC is received, PTCL plans to approach the State Bank of Pakistan (SBP) and the Securities & Exchange Commission of Pakistan (SECP) for final approvals.
Following the acquisition, Telenor Pakistan will become a wholly owned subsidiary of PTCL, similar to Ufone. Analysts expect the consolidation to strengthen Ufone’s position in the upcoming 5G spectrum auction and allow it to compete more effectively with Jazz and Zong.
While ownership transfer is being expedited, sources emphasized that the complete operational and legal merger could take six months to a year. PTCL will need to seek PTA approval again and obtain a court-sanctioned Amalgamation Order before finalizing the merger.
If completed, the PTCL–Telenor combination would be one of the largest telecom consolidations in Pakistan in over a decade. Experts believe it could reshape the competitive landscape as the country gears up for widespread 5G adoption.
