PTCL fast-tracks acquisition of Telenor ahead of 5G spectrum auction
Technology
PTCL accelerates steps to acquire Telenor before the 5G auction, with PTA expected to issue an NOC by 30 November; full merger may take up to 18 months.
ISLAMABAD (Dunya News) – The process of transferring Telenor’s ownership to PTCL has accelerated ahead of the upcoming 5G spectrum auction.
According to sources, the Competition Commission had forwarded the PTCL–Telenor case to the PTA in October. Hearings with other telecom companies regarding the merger have now been completed.
PTA sources say Jazz, Zong and Wateen have presented their views on future market competition. Once the review is finalised, PTA will issue the NOC.
Sources indicate the NOC is likely to be issued by 30 November. Following its issuance, PTCL will approach the State Bank and SECP for further formalities.
Similar to Ufone, Telenor will also become a subsidiary of PTCL. Telenor’s inclusion under PTCL is expected to strengthen Ufone’s position in the 5G auction.
Sources added that the complete merger of the two companies may take one to one-and-a-half years. For final integration, PTCL will need to seek approval again from the court and the PTA.
PTA sources say that after the issuance of the Amalgamation Order and subsequent court approval, PTCL’s acquisition of Telenor will be fully finalised.
