ISLAMABAD: The long-anticipated PTCL acquisition of Telenor Pakistan has hit yet another roadblock, with regulatory approvals still pending and the transaction now expected to close in the second half of 2025, according to Telenor Group’s latest quarterly report.
Pakistan Telecommunication Company Limited (PTCL) had signed an agreement to acquire Telenor Pakistan (Pvt) Ltd and Orion Towers, with an initial deadline set for December 2024. However, due to a prolonged regulatory review process, the deadline was revised to the end of June 2025. Now, even that extension appears uncertain.
“We still anticipate receiving the required approvals in the coming months, with subsequent closing of the transaction in the second half of 2025,” Telenor Group said in response to a media query.
The PTCL acquisition of Telenor Pakistan is contingent upon clearance from the Competition Commission of Pakistan (CCP), which has yet to issue a decision. This regulatory bottleneck has caused frustration within both companies, with PTCL warning that further delays could jeopardize the entire agreement.
In February 2025, Telenor Group expressed confidence that the merger would conclude in the first half of the year. However, in its latest update, the Group admitted that obtaining the necessary approvals has taken longer than expected.
“We have submitted all the required documents and information to CCP,” the Group CEO had earlier stated. “However, the delay in announcing the decision regarding the acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers is unusual.”
PTCL officials fear that extended uncertainty could negatively impact internal planning and market positioning. As the revised deadline approaches, pressure is mounting on CCP to provide clarity on the deal’s status.
The acquisition, once finalized, would significantly reshape the telecom landscape in Pakistan by consolidating PTCL’s position and expanding its market footprint. However, for now, the high-stakes deal remains in regulatory limbo.