Today's Edition
ABU DHABI (ALETIHAD)
Emirates Telecommunications Group Company, e&, announced on Tuesday that PTCL Group has completed the full acquisition of Telenor Pakistan after receiving all required regulatory approvals.
The announcement follows a share purchase agreement signed on December 14, 2023 between Pakistan Telecommunication Company Limited (PTCL), a subsidiary of e& with effective economic ownership of 23.4%, and Telenor BV to acquire a 100% stake in Telenor Pakistan (Pvt) Ltd.
The company said the completion of the transaction marks a significant milestone for the telecom sector in Pakistan.
According to the statement, the in-market consolidation is expected to enhance the national telecom landscape and support improved connectivity and digital inclusion.
The combination of the two entities will allow the group to scale coverage and improve service quality, supporting Pakistan’s broader economic growth.
For PTCL Group, the acquisition is expected to strengthen its competitive position in the local market and support the country’s digital transformation initiatives. The company said the integration of Telenor Pakistan and Ufone will bring together complementary infrastructure assets, with anticipated synergies particularly in network operations.
These synergies are expected to result in greater operational efficiency, cost optimisation and improved service quality, while also accelerating innovation and scalability across the group.
As of September 2025, Telenor Pakistan reported annual revenue of PKR133.7 billion, EBITDA of PKR57 billion and an EBITDA margin of 42.6%. The incremental impact of the transaction on e& international’s financials for the last twelve months is estimated at around 6% on revenue and 5% on EBITDA.
The transaction value of PKR108 billion, on a cash-free and debt-free basis, was financed through debt raised by PTCL. The financial results of Telenor Pakistan will be consolidated into PTCL Group’s financial statements starting 31 December 2025. The company said the impact on e&’s overall financials is not expected to be material.
