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PTCL to Secure Full Ownership Stake in Telenor Pakistan
Pakistan Telecommunication Company Limited (PTCL) has signed a Share Purchase Agreement (SPA) with Telenor Pakistan, acquiring 100% of Telenor Pakistan's shares for Rs108 billion ($385 million).
The transaction aims for in-market consolidation, enhancing the long-term outlook of the telecom sector. PTCL's share price surged, reaching the upper limit. The deal includes external debt financing and positions PTCL Group as a leading operator, serving over 70 million customers.
Telenor Group values the transaction at NOK 5.3 billion, emphasizing its commitment to Pakistan's telecom sector growth. The completion of the deal is subject to regulatory approvals and expected in 2024.
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