Tuesday, March 26 2024

Competitors raise concern over telecom merger
As one of the largest mergers in Pakistan’s telecom sector is underway, the Competition Commission of Pakistan (CCP) has said that the decision on acquisition of Telenor Pakistan by Pakistan Telecommunication Company Limited (PTCL) could be delayed as competitors have expressed concern over the plan. In a statement, the CCP said that a pre-merger application about PTCL’s intention to acquire 100% shareholding of Telenor Pakistan and Orion Towers was received on February 29, 2024. However, the application was submitted with an incorrect fee and the remaining fee was sent to the commission on March 6, 2024. Later, to complete due diligence, further information was sought but PTCL’s legal teams had yet to submit the required information. CCP pointed out that “after all the relevant documents and information is received, the commission has 30 working days to complete its due diligence, for the first phase review”.
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Rivals worried over PTCL-Telenor merger reports: CCP
Firms in the telecom sector are worried that the acquisition of Telenor Pakistan by the Pakistan Telecommunication Ltd (PTCL) will harm their interests, the Competition Commission said on Monday. In what is believed to be one of the largest deals in the country’s telecom sector, the agreement will see Ufone merge with Telenor Pakistan, making the joint company a close rival of Jazz, the nation’s largest telecom firm. The CCP said in a statement that it had received the PTCL’s application for permission to acquire 100 per cent shareholding of Telenor Pakistan (Pvt) and the Orion Towers Private on Feb 29. But the money submitted with the application was less than the specified amount, the CCP said, adding that PTCL paid the remaining amount on March 6.
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