By Rehan Ayub
Copyright brecorder
The Competition Commission of Pakistan (CCP) is close to completing its review of the PTCL–Telenor merger and is expected to issue a comprehensive order within two weeks.
CCP chairman Kabir Sidhu informed this in a meeting of the Senate Standing Committee on Information Technology on Friday.
“PTCL is a company of strategic importance for Pakistan,” Sidhu said while briefing the panel over the merger.
“Reviews of major companies’ transactions take considerable time,” he was quoted as saying in a CCP statement. “Commission will soon issue a comprehensive order on the merger of both companies.”
Telenor Group awaits approvals for PTCL acquisition of Telenor Pakistan, Orion Towers
Sidhu later informed the committee that the commission might issue the order within two weeks.
Earlier during the day, Telenor in a statement expressed concern that the regulatory approval process for the sale of Telenor Pakistan to Pakistan Telecommunication Company Ltd (PTCL) continued to face delays 21 months after the transaction had been announced in December 2023.
“This is a departure from the clear and consistent trend of telecom consolidation approvals across Asia,” Telenor said.
The company highlighted that in Pakistan, Jazz, with 38% mobile subscriber market share and an estimated 44% revenue market share, was created by the Mobilink-Warid merger in 2016. It said that the transaction was approved in three months.
“The proposed sale of Telenor Pakistan to PTCL would create a number two mobile player with a 36% mobile subscriber market share and an estimated 32% revenue share when completed. This is well within the range of other approved transactions across Asia, many of which involve higher market concentrations,” said Arnstein Sletmoe, Head of M&A, Telenor Group.
Last month, the CCP had sought further clarity from the PTCL on key issues related to the proposed acquisition of 100% shareholding in Telenor Pakistan and Orion Towers (Private) Limited.
