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Islamabad, In a significant move reshaping Pakistan’s telecommunications landscape, Pakistan Telecommunication Company Limited (PTCL), a subsidiary of e and Group, has entered into a Share Purchase Agreement to acquire a 100% stake in Telenor Pakistan. The deal, valued at PKR 108 Billion, marks a major step in PTCL’s strategic expansion and is set to revolutionize the industry by combining the strengths of both entities.
According to Pakistan Telecommunication Company Limited, this acquisition aims to drive innovation and market growth by leveraging the synergies between PTCL Group and Telenor Pakistan. The merger is anticipated to enhance customer service, extend market reach, and accelerate the digital transformation journey in Pakistan, further solidifying PTCL’s position as a leading player in the telecom sector.
Hatem Bamatraf, President and Group CEO of PTCL and PTML, emphasized the value creation for customers and stakeholders resulting from this strategic alignment. He highlighted the commitment to developing a culture of delivery and teamwork, leveraging the strengths of both PTCL and Telenor’s teams. The combined entity is expected to provide improved coverage, seamless data experience, and a broader range of products and services.
Group CEO of e and , Hatem Dowidar, remarked on the acquisition’s significance for market consolidation and investment in next-generation network development in Pakistan. This move underlines e and ‘s dedication to the country’s telecom sector’s progress and its focus on delivering enhanced value to customers and shareholders. Dowidar expressed the group’s aspiration to drive digital transformation and innovation, contributing to a connected and progressive telecom landscape.
Hassan Nasir Jamy, Chairman of PTCL’s Board, reflected on PTCL Group’s pivotal role in connecting Pakistan. He asserted that this agreement reinforces their commitment to building a digitally connected nation and being a national champion in supporting Pakistan’s digital transformation. Jamy emphasized the importance of this acquisition in providing efficient and advanced technological solutions to customers.
The completion of the transaction is subject to regulatory approvals and customary closing conditions. PTCL is engaged in facilitating a smooth transition process to minimize disruption for employees, customers, and other stakeholders.
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