In a recent update, the Pakistan Telecommunication Company (PTCL) Group addressed the concerns raised by the Competition Commission of Pakistan (CCP) related to its acquisition of Telenor Pakistan and Orion Towers.
The Group has asserted that all the necessary information required was provided for the acquisition process, refuting the claims of non-compliance.
The event occurred when a CCP official, on a talk show, said that PTCL had not submitted all required information, potentially delaying the commission’s decision on the acquisition. However, PTCL countered these claims by stating that it has fully complied with the CCP’s requests and that no further information is pending. PTCL has formally conveyed its concerns through legal counsel.
Furthermore, PTCL responded to rumors that the CCP had recently imposed specific conditions on the acquisition. The company clarified that it received proposed conditions from the CCP on December 20, 2024, and had promptly addressed them, contrary to reports of recent communications.
It is pertinent to mention that the acquisition process began when PTCL submitted its pre-merger application on February 29, 2024. The CCP then moved the review to a second phase on July 31 after issuing a preliminary order on May 3.
The review included five public hearings between September 30 and October 24, 2024, with the final meeting to discuss CCP’s conditions on December 17, 2024.