PTCL completes $400 million acquisition of Telenor Pakistan

Officials from Pakistan Telecommunication Company Limited (PTCL) and Telenor Pakistan (Pvt) Ltd. pose for a group photo after signing an agreement in Islamabad, Pakistan, on December 14, 2023. (PTCL/File)
Short Url
Updated 31 December 2025
Follow

PTCL completes $400 million acquisition of Telenor Pakistan

  • Deal will see PTCL’s Ufone merge with Telenor Pakistan to create country’s second-largest mobile operator
  • PTCL has said acquisition will help improve customer experience, enhance network quality and coverage

KARACHI: The Pakistan Telecommunication Company Limited (PTCL) announced on Wednesday that it has acquired 100 percent shares of Telenor Pakistan (Private) Limited, with the move expected to reshape Pakistan’s telecom landscape. 

PTCL signed a share purchase agreement with Norway’s Telenor Group in December 2023 to acquire 100 percent stakes in Telenor Pakistan and Orion Towers (Private) Limited for $400 million. The acquisition will see PTCL’s mobile arm, Ufone, merge with Telenor Pakistan to create the country’s second-largest mobile operator.

“It is to notify that PTCL on December 31, 2025, has acquired 100 percent of the shareholding of Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited, and shares have been duly transferred in the name of PTCL,” the company said in a stock filing to the Pakistan Stock Exchange (PSX).

PTCL has previously said the acquisition will help improve customer experience, enhance network quality and coverage, and enable the telecom sector to achieve greater efficiency by building resilient infrastructure and creating a more competitive landscape.

The deal is expected to boost Pakistan’s telecom landscape, which currently has four major operators but continues to face pressure from thin margins, high spectrum costs and heavy capital expenditure requirements.

The acquisition followed approvals from the Competition Commission of Pakistan and the Pakistan Telecommunication Authority earlier this year. 


Thousands rally in Karachi after deadly mall fire, demand resignations and reforms

Updated 5 sec ago
Follow

Thousands rally in Karachi after deadly mall fire, demand resignations and reforms

  • Protesters cite fire that killed at least 67, blame civic failures, weak emergency response
  • Rally adds pressure on Sindh’s ruling party amid anger over infrastructure and utilities

KARACHI: Thousands rallied in Karachi on Sunday demanding the resignations of local officials and systemic reforms following a devastating shopping mall fire that killed dozens last month. 

The demonstration underscored deepening public anger over civic failures in Pakistan’s largest city.

Approximately 4,000 people marched under the slogan “Enough is enough” in a rally organized by the political Islamist party Jamaat-e-Islami (JI).

Demonstrators cited chronic water and power shortages, poor emergency services, and crumbling infrastructure as key grievances.

The blaze at the Gul Plaza Shopping Mall in January, which left at least 67 dead and over 15 missing, has intensified scrutiny of the city’s disaster preparedness and governance.

The protest’s main speaker, Jamaat e Islami’s Karachi chief Munim Zafar, demanded immediate compensation for the victims’ families and affected businesses. He also accused the city’s administration of failing to provide basic utilities and competent emergency services.

“Our demand is clear: compensation for the families of those who died in the Gul Plaza incident, and compensation for the traders who suffered losses. They should be given alternative support to help them rebuild their businesses,” Zafar said.

He said Karachi’s residents were being denied basic services and protection, calling for the resignations of senior city and provincial officials: 

“The people of Karachi deserve to live with dignity, but you’re not providing them with basic necessities like water and electricity. When there’s a fire, you’re incapable of rescue, and when it rains, the city is flooded. Our infrastructure is in shambles ... Karachi needs an empowered local government system.”

The protest increases political pressure on the ruling Pakistan Peoples Party (PPP), which governs Sindh province and Karachi.

City and provincial authorities have previously pointed to rapid urbanization and funding limits when addressing infrastructure issues. 

The offices of Karachi Mayor Murtaza Wahab and the Sindh government did not immediately respond to Reuters’ requests for comment on demonstrators’ requests.