The acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers by Pakistan Telecommunication Company Limited has encountered yet another delay, with Telenor Group now expecting the transaction to close in the second half of 2025. The postponement is due to pending approvals from the Competition Commission of Pakistan, which has yet to grant the necessary regulatory clearance. This extended review process is raising concerns about the stability and direction of one of the most significant telecom consolidations in the country’s recent history.
The status of the acquisition was highlighted in Telenor Group’s Q1 2025 report, where the company admitted that the timeline for regulatory approval has stretched beyond its original forecast. Responding to a formal query, the group stated that while the required documentation has been submitted, the approvals are now expected in the coming months, with the final closing to follow later in 2025.
Initially announced with an expected closing date of December 2024, the deal had already been pushed to June 2025 due to procedural delays. With June nearing its end and no final word from CCP, the expected timeline has shifted once more, prompting unease among stakeholders.
Seen as a key move in reshaping Pakistan’s telecom sector, the PTCL-Telenor transaction is intended to combine infrastructure, networks, and operations under one umbrella. With Telenor Pakistan holding a notable market presence and PTCL supported by Etisalat, the merger is projected to enhance network efficiencies, extend service outreach, and potentially deliver better pricing models for consumers. However, the prolonged regulatory standstill now threatens the very momentum behind this plan.
PTCL’s Group CEO has confirmed that all documentation has been submitted to CCP and expressed concern over the unusual delay in the review process. Internally, PTCL leadership has cautioned that continued inaction could risk the transaction terms and erode investor confidence, especially in a market already grappling with high capital requirements and stiff competition.
Industry analysts are warning that further delays could destabilize business continuity planning for both PTCL and Telenor Pakistan. The acquisition reflects a broader trend of resource consolidation in Pakistan’s telecom space as providers seek operational sustainability. With the current uncertainty, attention is shifting toward the broader impact on competition and pricing, particularly if the number of mobile network operators drops from four to three—Jazz, Zong, and a combined PTCL-Telenor entity.
The delay also reverberates through the broader ecosystem. Employees, vendors, and competing operators remain in wait-and-see mode as CCP’s pending decision holds the industry in suspense. Telenor Group has made no indication of withdrawing from the transaction but noted the process has taken longer than anticipated.
For now, the future of the acquisition hinges on CCP’s upcoming decision. If approved in the coming weeks, the closing could still be achieved before the end of 2025. A further extension, however, could risk pushing the transaction into 2026 or even placing the deal in jeopardy. In an environment where investor sentiment is closely tied to regulatory efficiency, the outcome of this case is being viewed as a key test for Pakistan’s business climate.
