18 hours ago
- Business
- Business Recorder
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.
