Telenor Group awaits approvals for PTCL acquisition of Telenor Pakistan, Orion Towers
ISLAMABAD: Telenor Group is still anticipating receiving the required approvals regarding the Pakistan Telecommunication Company Limited (PTCL) acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers in the coming months, with subsequent closing of the transaction in the second half of 2025.
This was revealed by the Telenor Group while responding to a Business Recorder query.
According to the agreement, the transactions regarding the acquisition were earlier set for December 2024, but due to delay, a new deadline of end June 2025 was set.
Regulatory approvals delayed: H1 closure likely for Telenor's PTCL acquisition
The PTCL acquisition has been delayed due to pending regulatory approvals, with the transaction now expected to close in the second half of 2025, according to Telenor Group's first-quarter report for 2025.
Telenor Group had earlier stated in February that it expected the PTCL-Telenor merger to complete in the first half of 2025. However, in its latest update, the Group said obtaining the necessary regulatory approvals for the divestment of Telenor Pakistan has taken longer than anticipated.
PTCL has already warned that further delay in Competition Commission of Pakistan's (CCP) decision regarding acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers may impact the agreement between the two companies, as the deadline is approaching nearer.
'We have submitted all the required documents and information to CCP, however the delay in announcing the decision regarding acquisition of Telenor Pakistan (Pvt) Ltd and Orion Towers is unusual', said Group CEO earlier, while urging for earlier decision to remove confusion and move forward.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
5 hours ago
- Business Recorder
Spot rate decreased by Rs200 to Rs16,300 per maund
LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Tuesday decreased the spot Rate by Rs 200 per maund and closed it at Rs 16,300 per maund. Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained steady and the trading volume remained satisfactory. He also told that the rate of new cotton in Sindh is in between Rs 16,300 to Rs 16,500 per maund and the rate of cotton in Punjab is in between Rs 16,600 to Rs 16,800 per maund. The rate of Phutti in Punjab is in between Rs 7,800 to Rs 8,600 per 40 kg and the rate of Phutti in Sindh is in between Rs 7,500 to Rs 8,000 per 40 kg. 600 bales of Mir Pur Khas were sold in between Rs 16,300 to Rs 16,400 per maund, 5200 bales of Tando Adam were sold in between Rs 16,300 to Rs 16,500 per maund, 600 bales of Hyderabad, 400 bales of Shahdad Pur were sold at Rs 16,300 per maund, 800 bales of Burewala were sold at Rs 16,600 to Rs 16,800 per maund, 1400 bales of Chichawatni were sold at Rs 16,600 to Rs 16,700 per maund, 200 bales of Tounsa Shareef were sold at Rs 16,700 per maund, 1200 bales of Vehari were sold in between Rs 16,500 to Rs 16,600 per maund and 1000 bales of Sakran were sold at Rs 16,300 per maund. The Spot Rate Committee of the Karachi Cotton Association decreased the spot Rate by Rs 200 per maund and closed it at Rs 16,300 per maund. Polyester Fiber was available at Rs 338 per Kg. Copyright Business Recorder, 2025
Business Recorder
5 hours ago
- Business Recorder
Hybrid cotton trials give birth to cotton revival hopes: experts
LAHORE: After decades of stagnation, Pakistan's cotton sector is poised for a turnaround as hybrid cotton has been allowed and with large-scale field trials underway this year across Sindh and Punjab, industry experts project that hybrid cotton could drive a full recovery of Pakistan's cotton production within three to four years. For more than 50 years, the local industry lacked access to hybrid cotton technology despite regulatory approval being granted as far back as 2010. Now, with the regulatory bottlenecks removed, Pakistan can take benefit of experience from global leaders such as China, the U.S., Uzbekistan, India and Ethiopia. Shahzad Ali Malik, CEO of Guard Agricultural Research and Services (Pvt.) Limited, told Business Recorder that they are conducting hybrid cotton trials on 125 acres nationwide, including Upper and Lower Sindh and the southern part of Punjab province. Each participating farmer is cultivating one-acre plots, with seed provided at a 50% discount. 'Our initial target was to bring 750 acres of land under trial, but the ban was lifted late, and sowing had almost been completed across the country. Out of the 125 acres currently under cultivation, 60 acres are in Punjab and the rest in Sindh. One-acre plot were chosen to assess the performance of the varieties under diverse weather conditions and soil types,' he explained. He said they had also carried out hybrid cotton trials in 2007, but with current higher temperatures and erratic weather patterns, they are now conducting fresh trials of varieties imported from Ethiopia. 'We recorded 85 percent higher production with these varieties in 2007, but the programme could not proceed further due to a ban on the import of hybrid cotton varieties. That ban has recently been lifted by the government. I'm grateful that the present government not only listened to my presentation on cotton in a recent meeting chaired by the Prime Minister but also made a positive decision within two months based on my recommendations,' he added. Initial field data is promising: although plant populations for hybrid varieties are lower (8,500 plants per acre vs. 17,000 in traditional varieties), boll formation is significantly higher, with averages of 250 to 300 bolls per plant; a marked improvement over the previous average of 150 to 200, he remarked. Replying to various queries, he said now the ball is in the court of private sector companies. Just as they introduced hybrid varieties of rice and maize and achieved record production, they should now promote hybrid cotton to create a win-win situation for themselves, for growers in the form of higher incomes, and for the country through increased cotton production. He added that they have so far spent over Rs 210–220 million on cotton seed research to maintain the reputation they earned by introducing high-yielding hybrid rice varieties. Industry leaders believe that with continued investment and strategic alignment with global best practices, Pakistan's cotton sector - a vital contributor to exports and rural employment - could soon be restored to its former strength. Copyright Business Recorder, 2025
Business Recorder
5 hours ago
- Business Recorder
Govt recognises importance of chemical industry: minister
KARACHI: Provincial Minister of Industries and Commerce Jam Ikramullah Dharejo has said that the Sindh government fully recognised the importance of the chemical industry and committed to creating an enabling environment through progressive trade policies, ease-of-doing-business reforms, and targeted incentives. Inaugurating the Pakistan Chemical Expo 2025, organised by Chairman of Pakistan Chemical Manufacturers Association (PCMA) at Expo Centre here, he said that the chemical industry was viewed not only as a pillar of production but also as a potential engine for exports. He emphasised that the development of this sector should be the top priority for the government, adding that the government envisions Pakistan emerging as a regional as well as a global hub for chemical manufacturing. He said: 'the chemical industry is at the heart of modern manufacturing, from textiles and pharmaceuticals to agriculture and energy'. Secretary Industries and Commerce Muhammad Yasin Shar Baloch was also present. However, Haroon Ali Khan, Chairman of Pakistan Chemical Manufacturers Association (PCMA) emphasised the critical role of the chemical industry in Pakistan's economic growth, job creation, and export development. He underlined the Expo as a strategic initiative by PCMA to bridge the gap between industry, academia, and global markets while encouraging policy support and sustainable industrial practices. Copyright Business Recorder, 2025
