Telenor Group has officially completed the sale of Telenor Pakistan to Pakistan Telecommunication Company Limited, part of the global technology group e&, receiving NOK 0.9 billion, equivalent to Rs 25.012 billion, in cash flow since the announcement of the transaction. The deal, first announced on 14 December 2023, valued Telenor Pakistan at NOK 5.3 billion on a cash-and-debt-free basis. Following the transaction closing, the valuation aligns at NOK 5.4 billion, or Rs 149.993 billion using September currency rates, subject to final adjustments at year-end.
Since its launch two decades ago, Telenor Pakistan has played a significant role in expanding connectivity and digital services across the country. The company has brought 4G technology to underserved areas, connecting millions of people and supporting economic sectors including agriculture, banking, and technology freelancing communities. Its products and services have not only enabled digital access but also contributed to growth in key industries by providing critical infrastructure and connectivity solutions.
Telenor Pakistan’s operations have been characterized by initiatives aimed at promoting safe internet use, enhancing digital skills, and offering mobile identity solutions. These programs have strengthened responsible connectivity and inclusion across Pakistan, reaching more than 40 million customers nationwide. Telenor Group expressed gratitude to its customers, partners, and employees, recognizing the dedication and innovation that shaped the company’s impact on Pakistan’s digital landscape over the last 20 years.
Executives highlighted that the transaction aligns with Telenor Group’s broader strategy to focus on market-leading positions in Asia while supporting consolidation and innovation in Pakistan’s telecom sector. Benedicte Schilbred Fasmer, Telenor Group CEO, noted that the completion of the sale reflects a strategic move while acknowledging the contributions of employees and partners in delivering digital services that made a lasting economic and societal impact. Jon Omund Revhaug, Head of Telenor Asia, praised Telenor Pakistan employees for their resilience and innovation, emphasizing that their work has transformed both the company and the lives of millions of Pakistanis. The executives added that as Telenor Pakistan transitions under PTCL ownership, the company’s legacy in digital inclusion and connectivity will continue to influence the country’s technology ecosystem.
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