Telenor Group concludes sale of local operations to Pakistan Telecommunications Company 

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The undated file photo shows an outside view of a Telenor Pakistan office. (Photo courtesy: GeoNews/website)
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President and Group CEO, PTCL & PTML, Hatem Bamatraf (5th left) and Sigwe Brekke (4th right), President and CEO Telenor Group photographed with top executives from both companies during a signing ceremony on December 14, 2023. (Photo courtesy: PTCL)
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Updated 14 December 2023
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Telenor Group concludes sale of local operations to Pakistan Telecommunications Company 

  • Transaction values Telenor Pakistan at $494 million on a cash-and-debt-free basis, Telenor Group says
  • Telenor Pakistan will continue business as usual, focus on delivering services to 45 million customers

KARACHI: The Telenor Group on Thursday announced the sale of its Pakistan telco operations to Pakistan Telecommunications Company Ltd. (PTCL) as part of the company’s strategy to build and scale market-leading players in Asia.

The remaining Telenor Asia portfolio comprises market-leading operators Grameenphone in Bangladesh, CelcomDigi in Malaysia and True Corporation in Thailand, with close to 160 million customers.

“It [sale] concludes the strategic review of the telco operations in Pakistan, which was announced in July 2022,” Telenor Group said in a statement. 

“The transaction values Telenor Pakistan at NOK 5.3 billion ($494 million) on a cash-and-debt-free basis. This includes repayment of intercompany loans of NOK 3.5 billion ($326 million) and reduced interest-bearing liabilities of NOK 1.8 billion ($168 million), including leases.”

“Our decision to pursue the sale of our Pakistan operations follows 18 successful years of operations in the country, which started as a greenfield rollout,” Sigve Brekke, CEO Telenor Group, said.

“We are proud of the company Telenor Pakistan is today. It is an efficient and future-ready telco operator, with a strong distribution network and talented team serving 45 million customers.”

Brekke said by selling to the country’s largest integrated ICT company, Telenor believed the consolidation move would help strengthen Pakistan’s telecoms sector, creating opportunities in new areas of growth to the benefit of consumers in Pakistan.

“We systematically considered all alternatives during the strategic review process and believe that, following a sale, the market will be better served by a strong local champion,” Petter-Børre Furberg, Head of Telenor Asia, added.

“Our strategy in Asia is to build number one positions in the markets we operate, with scale as a pre-requisite for value creation and profitable growth.”

Telenor Pakistan will continue its business as usual and focus on delivering services to its 45 million customers.

The agreement is subject to regulatory approvals and other customary terms and conditions. 

The transaction is expected to be completed during 2024.


Pakistan nears $1.5 billion deal to supply weapons, jets to Sudan

Updated 09 January 2026
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Pakistan nears $1.5 billion deal to supply weapons, jets to Sudan

  • Deal may include drones, air defense systems and Karakoram-8 aircraft, with possible JF-17 fighters
  • The sale is expected to bolster Sudan’s army in the ongoing civil war with the Rapid Support Forces

ISLAMABAD: Pakistan is in the final phases of striking a $1.5-billion deal to supply weapons and jets to Sudan, a former top air force official and three sources said, promising a major boost for Sudan’s army, battling the paramilitary Rapid Support Forces.

Their conflict has stoked the world’s worst humanitarian crisis for more than 2-1/2 years, drawing in myriad foreign interests, and threatening to fragment the strategic Red Sea country, a major gold producer.

The deal with Pakistan encompasses 10 Karakoram-8 light attack aircraft, more than 200 drones for scouting and kamikaze attacks, and advanced air defense systems, said two of the three sources with knowledge of the matter, who all sought anonymity.

It was a “done deal,” said Aamir Masood, a retired Pakistani air marshal who continues to be briefed on air force matters.

Besides the Karakoram-8 jets, it includes Super Mushshak training aircraft, and perhaps ‌some coveted JF-17 ‌fighters developed jointly with China and produced in Pakistan, he added, without giving figures ‌or ⁠a delivery ‌schedule.

Pakistan’s military and its defense ministry did not immediately respond to requests for comment.

A spokesman for Sudan’s army did not immediately respond to a message requesting comment.

Assistance from Pakistan, especially drones and jets, could help Sudan’s army regain the air supremacy it had toward the start of its war with the RSF, which has increasingly used drones to gain territory, eroding the army’s position.

PAKISTAN’S DEFENSE AMBITIONS

The deal is another feather in the cap for Pakistan’s growing defense sector, which has drawn growing interest and investment, particularly since its jets were deployed in a conflict with India last year.

Last month, Islamabad struck a weapons deal worth more than $4 billion with the Libyan National Army, officials said, for one of the South Asian nation’s largest arms sales, which includes JF-17 fighter jets and training aircraft.

Pakistan has also held talks with Bangladesh on a defense deal that could includes the Super Mushshak training jets and JF-17s, as ties improve ties with Dhaka.

The government sees Pakistan’s burgeoning industry as a catalyst to secure long-term economic stability.

Pakistan is now in a $7-billion IMF program, following a short-term ‌deal to avert a sovereign default in 2023. It won IMF support after Saudi Arabia and other Gulf allies provided financial and deposit rollovers.