google.com, pub-2762820915666464, DIRECT, f08c47fec0942fa0
technologyplus.pk
Technolog & Business News from Pakistan

- Advertisement -

IFC approves financing for PTCL Group’s acquisition of Telenor Pakistan

- Advertisement -

Islamabad: The Board of Directors of the International Finance Corporation (IFC) has provided a go-ahead for financing to PTCL Group for the purchase of Telenor Pakistan. The decision follows PTCL Group’s signing of a share purchase agreement with Telenor Pakistan for the acquisition of a 100 percent stake in the company on a cash-free, debt-free basis.

Affordable and Seamless Connectivity in Saudi Arabia with Zong 4G’s IR Bundles

PTCL has been engaged with IFC, a member of the World Bank Group, for financing to materialize the deal. The approval of financing by the International Finance Corporation (IFC) not only signifies renewed trust in Pakistan’s economy but also underscores the immense potential of the country’s telecom sector. Moreover, it reflects the confidence of the international body in the PTCL Group’s capabilities as a leading facilitator in realizing the ‘Digital Pakistan Vision.’

- Advertisement -

ALSO READ  Irfan Wahab joins Telenor Asia, and Khurrum Ashfaque is named CEO of Telenor Pakistan

- Advertisement -

Business community witnesses slight improvement in sentiments: Gallup Survey

PTCL Group had signed the share purchase agreement with Telenor Pakistan for the acquisition of a 100 percent stake in the company in December last year. The agreement is one of the most noteworthy events in the country’s telecom sector. The deal is not only poised to strengthen the market standing of PTCL Group but also transform the country’s telecom and digital sector by accelerating growth and innovation.

ALSO READ  Ufone 4G brings unbeatable Data roaming, unrestricted access to WhatsApp for Hajj Pilgrims in Saudi Arabia

The acquisition of Telenor Pakistan by PTCL Group is subject to necessary regulatory approvals.

ALSO READ  Zong 4G and Sehat Kahani Join Forces to Empower Pakistan through Digital Health

- Advertisement -

- Advertisement -

- Advertisement -

Leave A Reply