PTCL has received a significant boost for its acquisition of Telenor Pakistan. The World Bank’s International Finance Corporation (IFC) has approved a loan of up to $400 million to help finance the deal.
This news comes after PTCL signed a Share Purchase Agreement with Telenor Pakistan in December 2023, aiming to acquire a 100% stake in the company. The acquisition will be financed through external debt, with the IFC loan playing a major role.
Finalization of the loan agreement is expected by July 31st, 2024, with details of the financing becoming public at that time.
Industry experts view this acquisition as a landmark event for Pakistan’s telecom sector. It is expected to solidify PTCL’s market position and potentially lead to significant growth and innovation within the country’s telecommunications and digital landscape.
