Pakistan Telecommunication Company Limited (PTCL) has officially completed the acquisition of 100 percent of Telenor Pakistan and Orion Towers, a transaction that took effect on December 31, 2025. This strategic move positions PTCL as a leading player in Pakistan’s telecom landscape, consolidating its subsidiaries, including Ufone and U Microfinance Bank, under a unified operational framework. The acquisition is expected to enhance service delivery, expand network capabilities, and strengthen Pakistan’s digital infrastructure while supporting the country’s growing digital economy.
The newly consolidated entity, named MergeCo, will combine operations of Ufone and Telenor Pakistan. During the initial transition period, Telenor Pakistan will continue to operate as a separate legal entity, with full integration planned once the necessary regulatory approvals are obtained. PTCL confirmed the completion of the acquisition in a notice to Pakistan Stock Exchange, stating that shares for both companies have been successfully transferred to PTCL’s ownership in line with regulatory requirements. The company has pledged to keep stakeholders informed of further developments as integration progresses.
Hatem Bamatraf, President and CEO of PTCL and Ufone, emphasized that the merger will improve the quality of telecom services across Pakistan. Speaking at a media briefing, he highlighted ongoing discussions regarding an outstanding $800 million issue from PTCL’s privatisation, which is expected to be resolved in the near term. Bamatraf also confirmed that MergeCo will participate in the upcoming 5G spectrum auction, ensuring that industry concerns are considered and spectrum is allocated under favorable terms. The merged company aims to optimise spectrum resources and enhance network performance, enabling advanced digital services for both businesses and consumers.
PTCL acknowledged the significant contributions of Telenor ASA to Pakistan’s telecom sector, noting its role in raising service standards, expanding connectivity, and supporting the adoption of innovative solutions. With the creation of MergeCo, the company plans to deliver improved digital services and accelerate network expansion to meet increasing consumer demand. The next steps involve obtaining the memorandum of information from Pakistan Telecommunication Authority ahead of the 5G spectrum auction, which will provide further clarity on operational and regulatory conditions. The merger represents a significant milestone for Pakistan’s telecom industry, offering new opportunities for innovation, service delivery, and infrastructure development while reinforcing PTCL’s position as a key driver of digital growth.
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