PTCL’s Acquisition of Telenor to Result in Improved Telecom Services: Minister

Caretaker Federal Minister for Information Technology & Telecommunication Dr Umar Saif Thursday met the leadership teams of Pakistan Telecommunication Company Limited (PTCL) and Telenor.

In a statement shared after the meeting on X, the minister said that the acquisition of Telenor Pakistan by Ufone/PTCL will usher in a new era of improved telecom services for Telenor and Ufone consumers by merging their telecom networks and opportunities to introduce services such as 5G.

Met with leadership teams of Ufone/PTCL and Telenor.

Pending regulatory approvals, Ufone/PTCL is acquiring Telenor Pakistan, resulting in a much bigger and more valuable asset for the Etisalat group. This will usher in a new era of improved telecom services for Telenor and Ufone… pic.twitter.com/SSy6VuTYuD

— Umar Saif (@umarsaif) December 14, 2023

The minister said that it is great to see consolidation in the telecom sector as companies prepare to enhance their investments in Pakistan. He added that the spectrum auction will be conducted soon.

Earlier in the day, PTCL, a part of the e& Group (e&), announced the acquisition of 100 percent of Telenor Pakistan. The transaction only concerns the company’s telecom business and does not include Easypaisa in the acquisition.