Pakistan Telecommunication Company Limited (PTCL) has taken the first formal step toward acquiring Easypaisa, Pakistan’s largest digital financial services platform. According to well-placed sources who spoke to TechJuice, PTCL’s Board of Directors has approved the submission of a binding offer to acquire a majority stake in the company.
The move could mark one of the biggest deals in Pakistan’s telecom and fintech industries. It also shows PTCL Group’s plan to strengthen its digital business after completing the acquisition of Telenor Pakistan.
Sources confirmed that Easypaisa is the unnamed company mentioned in PTCL’s recent disclosure to the Pakistan Stock Exchange (PSX). In that filing, PTCL informed investors that its Board had approved a binding offer to acquire a majority stake in a company but did not reveal its name.
According to the sources, the deal has now entered the due diligence and commercial negotiation stage. However, the transaction is still subject to regulatory approvals, agreement on commercial terms, and the signing of final transaction documents.
The development follows reports published a few weeks ago by Bloomberg, which said Telenor was preparing to sell its controlling stake in Easypaisa after completing the sale of Telenor Pakistan to PTCL Group. According to the report, the sale of Easypaisa would allow the Norwegian telecom company to complete its exit from Pakistan. Telenor is reportedly working with Citigroup on the potential sale of its 55% stake in Easypaisa, while Ant Group owns the remaining 45%. The stake could be worth several hundred million dollars, although the process is still at an early stage.
PTCL’s interest in Easypaisa also reflects the limited opportunities available in Pakistan’s digital wallet market. Among the country’s major digital payment platforms, Easypaisa is currently the only large-scale asset available for acquisition. Competing platforms, including JazzCash, remain part of their existing business groups and are not on the market. Acquiring Easypaisa would give PTCL an established digital banking platform instead of building one from scratch.
Easypaisa has become one of Pakistan’s biggest digital financial platforms over the years. It serves more than 55 million registered users and became the country’s first digital bank approved for commercial operations in 2025. The platform operates independently from Telenor Pakistan, which is why it was not included in PTCL’s earlier acquisition of the telecom business.
PTCL did not identify the target company in its PSX filing. The company said it could not disclose the name because of confidentiality obligations and the absence of a final agreement. It also assured investors that it would share any material developments with the stock exchange in line with regulatory requirements.
If the acquisition goes through, Easypaisa will return to the PTCL Group following PTCL’s takeover of Telenor Pakistan. The deal would place one of Pakistan’s most valuable digital financial platforms under PTCL’s growing business portfolio.
The acquisition could also create strong business benefits. PTCL would combine its nationwide telecom network and large customer base with Easypaisa’s digital payments platform, mobile wallet services, merchant network, and branchless banking operations.
Neither PTCL nor Easypaisa has officially confirmed the identity of the target company. Even so, sources said the Board’s approval highlights PTCL’s plan to make Easypaisa a key part of its long-term digital transformation strategy.
The proposed transaction is not final yet. It still depends on successful due diligence, commercial negotiations, regulatory clearances, and the signing of definitive agreements. The deal will also require approval from the relevant authorities before it can be completed.
