PTCL–Telenor Merger to Create Pakistan’s Second-Largest Mobile Operator
Pakistan Telecommunication Company Limited (PTCL) has officially completed the acquisition of 100 percent shares of Telenor Pakistan (Private) Limited, marking a major development in the country’s telecom sector. The transaction stems from a share purchase agreement signed with Norway’s Telenor Group in December 2023, under which PTCL acquired Telenor Pakistan and Orion Towers (Private) Limited for $400 million. According to a filing submitted to the Pakistan Stock Exchange, the shares were formally transferred to PTCL on December 31, 2025.
As part of the acquisition, PTCL’s mobile subsidiary Ufone will merge with Telenor Pakistan, creating Pakistan’s second-largest mobile operator. PTCL believes the move will improve service quality, expand network coverage, and enhance operational efficiency through shared infrastructure. The deal, which has already received approvals from the Competition Commission of Pakistan and the Pakistan Telecommunication Authority, is expected to intensify competition in a sector challenged by high spectrum costs, heavy capital requirements, and declining margins.
