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Business Recorder
22-04-2025
- Business
- Business Recorder
Telenor's and Orion's acquisition: CCP decision delay threatens pact, PTCL chief says
ISLAMABAD: President and Group CEO of Pakistan Telecommunication Company Limited (PTCL) Hatem Bamatraf has warned that further delay in Competition Commission of Pakistan's 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. This he stated while announcing the PTCL group financial results for first quarter (Q1), 2025, ending March 31, 2025, which achieved double-digit revenue growth of 22 percent. '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, while urging for earlier decision to remove confusion and move forward. Telenor, Orion Towers: PTCL refutes CCP claim that it has failed to submit required info 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. Group CEO said that further delay in CCP decision may impact the agreement. Group CEO and Chief Financial Officer (CFO) Nadeem Khan briefed the media, who claimed that the group's robust performance solidifies its position as Pakistan's top integrated telecom service provider. PTCL group's revenue grew by 22 per cent year on year (YoY) to Rs61.8 billion, enabled by robust growth in consumer segments, notably fixed broadband, and mobile data, complemented by significant contributions from enterprise and carrier wholesale services. They further stated that PTCL continued its upward growth trend, posting a 14 per cent YoY increase in revenue to Rs29.6 billion, contributed primarily by 70 per cent revenue growth in Flash Fiber and 23 per cent revenue growth in Business Solutions versus the same quarter last year. PTCL's Enterprise Business grew by 23 per cent as compared to same period last year, while Carrier and Wholesale business continued its growth momentum and achieved 24 per cent overall revenue growth. International segment revenue has increased by eightper cent as compared to same period last year. PTCL reported an operating profit of Rs4.1 billion, representing a 40 percent increase compared to the same quarter of 2024 and net profit reached Rs1.2 billion in Q1 2025 PTML's (Ufone 4G's) revenue grew by 21 per cent compared to Q1, 2024. PTML posted an increase in operating profit by 11 per cent during the quarter as compared to last quarter of 2024 driven by an enhanced customer experience and increased digital engagement through a range of data-centric products and strategic partnerships. U Microfinance Bank (UBank) recorded a 77 per cent YoY increase in revenue. They further said that PTCL Group is taking the lead in bringing the vision of a 'Digital Pakistan' to reality. PTCL and Ufone 4G is providing critical infrastructures and connectivity to initiate this movement. PTCL Group is at forefront of providing innovative services and solutions, through a rich array of offerings. PTCL's aggressive FTTH expansion has fueled its remarkable topline growth. Building on last year's momentum, PTCL prioritised on delivering the fastest and most reliable internet services through its flagship 'Flash Fiber' that remained No 1 FTTH service in Pakistan. During Q1, 2025, Flash Fiber proudly surpassed 700K customers across the country leading to a YoY revenue growth of 70 per cent. In Q1 2025, PTCL remained at the forefront with digital transformation by introducing industry-first WhatsApp-based bill payment solution in Pakistan, offering customers unmatched convenience, security, and accessibility in paying their monthly PTCL bills. The initiative is a significant step towards advancing 'Digital Pakistan.' The business services segment strengthened its market dominance and maintained its leading position in IP Bandwidth, Cloud, Data Center, and other ICT services segments. Ufone's impressive 4G expansion reflects its strong commitment to customer satisfaction and digital innovation. Ufone 4G continued to enrich customer experiences with pioneering products and offers in Q1'25, including: Ufone 4G's 'Super 5' package, a comprehensive connectivity solution designed for groups of up to five individuals, enabling seamless sharing of resources that provide uninterrupted communication and internet access for families, friends, or small teams. PTML's digital brand is redefining the traditional telecom experience with key achievements including 183 per cent growth in subscribers. During Q1, 2025, PTCL Group continued its commitment to giving back to the community through various initiatives by uplifting lives and transform society through its social impact platform 'Dil Se', designed to promote digital inclusion, compassion, and innovation. In this quarter, under the flagship Social Impact initiative, Dil Se 'Ba-Ikhtiar', the talented entrepreneurs enrolled in the programme designed Peshawar Zalmi's kit. More than just a jersey, it stands as a symbol of strength, resilience, and empowerment. The road ahead will include expansion in more than 20 districts and facilitate startup registrations with seed funding to scale their businesses. The PTCL Group partnered with Pink Collar to facilitate Pakistan's inaugural Women Career Summit in Lahore. The summit drew 30 leading corporates conducting recruitment drives. The summit also provided Ba-Ikhtiar beneficiaries a valuable platform to connect with industry leaders and inspire fellow entrepreneurs. Copyright Business Recorder, 2025
Business Recorder
22-04-2025
- Business
- Business Recorder
Telenor's and Orion's acquisition: CCP decision delay threatens pact: PTCL chief
ISLAMABAD: President and Group CEO of Pakistan Telecommunication Company Limited (PTCL) Hatem Bamatraf has warned that further delay in Competition Commission of Pakistan's 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. This he stated while announcing the PTCL group financial results for first quarter (Q1), 2025, ending March 31, 2025, which achieved double-digit revenue growth of 22 percent. '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, while urging for earlier decision to remove confusion and move forward. Telenor, Orion Towers: PTCL refutes CCP claim that it has failed to submit required info 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. Group CEO said that further delay in CCP decision may impact the agreement. Group CEO and Chief Financial Officer (CFO) Nadeem Khan briefed the media, who claimed that the group's robust performance solidifies its position as Pakistan's top integrated telecom service provider. PTCL group's revenue grew by 22 per cent year on year (YoY) to Rs61.8 billion, enabled by robust growth in consumer segments, notably fixed broadband, and mobile data, complemented by significant contributions from enterprise and carrier wholesale services. They further stated that PTCL continued its upward growth trend, posting a 14 per cent YoY increase in revenue to Rs29.6 billion, contributed primarily by 70 per cent revenue growth in Flash Fiber and 23 per cent revenue growth in Business Solutions versus the same quarter last year. PTCL's Enterprise Business grew by 23 per cent as compared to same period last year, while Carrier and Wholesale business continued its growth momentum and achieved 24 per cent overall revenue growth. International segment revenue has increased by eightper cent as compared to same period last year. PTCL reported an operating profit of Rs4.1 billion, representing a 40 percent increase compared to the same quarter of 2024 and net profit reached Rs1.2 billion in Q1 2025 PTML's (Ufone 4G's) revenue grew by 21 per cent compared to Q1, 2024. PTML posted an increase in operating profit by 11 per cent during the quarter as compared to last quarter of 2024 driven by an enhanced customer experience and increased digital engagement through a range of data-centric products and strategic partnerships. U Microfinance Bank (UBank) recorded a 77 per cent YoY increase in revenue. They further said that PTCL Group is taking the lead in bringing the vision of a 'Digital Pakistan' to reality. PTCL and Ufone 4G is providing critical infrastructures and connectivity to initiate this movement. PTCL Group is at forefront of providing innovative services and solutions, through a rich array of offerings. PTCL's aggressive FTTH expansion has fueled its remarkable topline growth. Building on last year's momentum, PTCL prioritised on delivering the fastest and most reliable internet services through its flagship 'Flash Fiber' that remained No 1 FTTH service in Pakistan. During Q1, 2025, Flash Fiber proudly surpassed 700K customers across the country leading to a YoY revenue growth of 70 per cent. In Q1 2025, PTCL remained at the forefront with digital transformation by introducing industry-first WhatsApp-based bill payment solution in Pakistan, offering customers unmatched convenience, security, and accessibility in paying their monthly PTCL bills. The initiative is a significant step towards advancing 'Digital Pakistan.' The business services segment strengthened its market dominance and maintained its leading position in IP Bandwidth, Cloud, Data Center, and other ICT services segments. Ufone's impressive 4G expansion reflects its strong commitment to customer satisfaction and digital innovation. Ufone 4G continued to enrich customer experiences with pioneering products and offers in Q1'25, including: Ufone 4G's 'Super 5' package, a comprehensive connectivity solution designed for groups of up to five individuals, enabling seamless sharing of resources that provide uninterrupted communication and internet access for families, friends, or small teams. PTML's digital brand is redefining the traditional telecom experience with key achievements including 183 per cent growth in subscribers. During Q1, 2025, PTCL Group continued its commitment to giving back to the community through various initiatives by uplifting lives and transform society through its social impact platform 'Dil Se', designed to promote digital inclusion, compassion, and innovation. In this quarter, under the flagship Social Impact initiative, Dil Se 'Ba-Ikhtiar', the talented entrepreneurs enrolled in the programme designed Peshawar Zalmi's kit. More than just a jersey, it stands as a symbol of strength, resilience, and empowerment. The road ahead will include expansion in more than 20 districts and facilitate startup registrations with seed funding to scale their businesses. The PTCL Group partnered with Pink Collar to facilitate Pakistan's inaugural Women Career Summit in Lahore. The summit drew 30 leading corporates conducting recruitment drives. The summit also provided Ba-Ikhtiar beneficiaries a valuable platform to connect with industry leaders and inspire fellow entrepreneurs. Copyright Business Recorder, 2025
Express Tribune
21-04-2025
- Business
- Express Tribune
PTCL demands swift approval of merger
Pakistan Telecommunication Company Limited (PTCL) and Ufone 4G President and Group Chief Executive Officer Hatem Bamatraf has called for speedy approval of the PTCL-Telenor merger transaction and warned that the amalgamation agreement may be affected due to certain timelines. Talking to media on Monday, the CEO said that they had submitted all documents to the Competition Commission of Pakistan (CCP) pertaining to the merger. "We are surprised over the delay in the transaction for the last one year," he said, adding that Etisalat had been engaging in such transactions in other countries, which did not face such delay. He pointed out that there were certain timelines in the transaction agreement that could affect the PTCL-Telenor merger. Another PTCL official said that they were expecting further growth in PTCL following its merger with Telenor. Hatem Bamatraf called unfair the delay on the part of competition body in granting approval to the merger with Telenor Pakistan. "We are waiting for the approval and are surprised over the delay; it should not have taken place," he said while responding to a query from the media. On the occasion, the PTCL management presented financial results for the first quarter of calendar year 2025. The company CEO said that PTCL had compiled documents for the CCP and the announcement of the decision was critical. He even referred to the investment made by Etisalat in Pakistan and other markets where the UAE-based company was operating. Bamatraf added that if the required permission from the CCP was not received in time, the loan agreement between PTCL and the International Finance Corporation – a member of the World Bank group – might not be completed. The financial results for the period from January-March 2025 showed that the company maintained its loss-making track despite a 22% revenue growth during the quarter. The revenue of the PTCL group in the three months was Rs61.85 billion, but the group faced a net loss of Rs3.97 billion. The three main entities of the PTCL group were PTCL, Ufone and Ubank. The key reason for the continuous loss incurred by PTCL was the financial condition of Ufone, which was in the red, despite a 21% revenue increase in the first three months of 2025. However, PTCL made a net profit of Rs1.17 billion.
