Telenor-PTCL merger: CCP seeks more details on proposed business plan

ISLAMABAD: The Competition Commission of Pakistan (CCP) has sought further clarity from Pakistan Telecommunication Company Limited (PTCL) on key aspects of the PTCL-Telenor merger, questioning the source of funds for its planned acquisition of 100 per cent shareholding in Telenor Pakistan and Orion Towers

 According to a statement issued by the commission, the CCP bench made the request after a briefing from PTCL’s senior management during proceedings held under Section 11(6) of the Competition Act, 2010.

The CCP is currently conducting a Phase-II review of the PTCL-Telenor transaction, aimed at assessing the potential impact of the acquisition on Pakistan’s telecom and tower markets.

CCP’s Phase II review of PTCL–Telenor merger continues. PTCL’s top management briefs CCP bench on business plan & efficiencies. Bench raises probing questions to ensure a thorough competition assessment. pic.twitter.com/gW3t9Fkb4K

— Competition Commission of Pakistan (@CCP_Pakistan) August 5, 2025

Telecom players including Wateen and Jazz had raised significant objections to PTCL’s bid during a CCP hearing in October last year, expressing concerns that the PTCL-Telenor merger could harm market competition.

While evaluating PTCL’s financial position, the CCP bench also raised questions about the source of funding for the proposed acquisition.

“During the proceedings, PTCL presented a detailed briefing on the company’s proposed business plan, claimed efficiencies, and regulatory accounts, in connection with its planned acquisition of 100 per cent shareholding in Telenor Pakistan (Private) Limited (TP) and Orion Towers (Private) Limited (OT),” the statement read.

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The bench, comprising CCP Chairman Dr Kabir Ahmed Sidhu, Member Salman Amin, and Member Abdul Rashid Sheikh, actively engaged with PTCL representatives and posed probing questions on various aspects of the transaction.

The panel questioned PTCL officials on post-merger operations and requested additional information to comprehensively evaluate the merger’s impact on competition and consumers.

“The Commission sought further clarity on key issues to ensure a comprehensive assessment of the merger’s impact on competition and consumers,” the statement added.

It is worth noting that Telenor Group had earlier announced it expected the PTCL-Telenor merger to be completed in the first half of 2025.

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Additionally, the International Monetary Fund (IMF) had sought official information from Pakistan regarding the $1 billion investment commitment by the UAE-based telecom company e& (formerly known as Etisalat) for the proposed PTCL-Telenor merger.