Pakistan's Telecom Regulator Clears PTCL's $490 Million Acquisition of Telenor Pakistan
December 10, 2025
In a move set to reshape Pakistan's telecommunications landscape, the Pakistan Telecommunication Authority (PTA) has granted its final regulatory approval for Pakistan Telecommunication Company Limited (PTCL) to acquire Telenor Pakistan. This long-awaited decision paves the way for the creation of the country's second-largest mobile operator by subscriber count, consolidating a market of over 240 million people and intensifying competition in a sector critical to digital and economic growth.
The PTA issued a No Objection Certificate (NOC) following its review, concluding a two-year regulatory process that began when the $490 million deal was first announced in late 2023. The transaction had already received clearance from the Competition Commission of Pakistan in early October. In its statement, the PTA mandated that "both companies must ensure continuity and quality of services and uphold all license obligations throughout the transition," granting PTCL permission to proceed subject to the completion of remaining legal and commercial formalities.
The acquisition will combine Telenor Pakistan's substantial subscriber base of more than 42 million customers with PTCL's mobile subsidiary, Ufone, which serves just over 27 million. The resulting entity, with a combined reach approaching 70 million subscribers, will significantly close the gap with the market leader, Jazz. For Telenor Group, the sale marks a strategic exit from Pakistan after 18 years of operation, following its pattern of consolidating Asian assets through sales or mergers, as seen previously in Malaysia and Thailand.
Financed in part by a $400 million debt facility secured by PTCL last year, the deal is now expected to close in 2025, a year later than initially anticipated. The consolidation is likely to trigger intensified competition in Pakistan's telecom sector, potentially leading to increased investment in network infrastructure, particularly in 4G/5G rollouts and digital services. It also signals a phase of market maturation where scale becomes increasingly vital for profitability and technological advancement.
Source: datacenterdynamics
Pakistan's Telecom Regulator Clears PTCL's $490 Million Acquisition of Telenor Pakistan
