PTCL’s acquisition of Telenor Pakistan has entered its final stage as the Pakistan Telecommunication Authority accelerates its review ahead of the government’s planned 5G spectrum auction in February–March 2026. The regulator has completed hearings with all major operators—Jazz, Zong, Wateen, Telenor and Ufone—and is expected to announce its decision by the end of November.
Sources indicate that once the review is concluded, PTA will issue the No-Objection Certificate (NOC), with approval likely by 30 November. After securing the NOC, PTCL will approach the State Bank of Pakistan and SECP for subsequent approvals. Under the new structure, Telenor—like Ufone—will operate as a PTCL subsidiary, positioning the combined entity to compete more effectively in the upcoming 5G auction.
The acquisition previously cleared a major hurdle when the Competition Commission of Pakistan approved PTCL’s purchase of Telenor Pakistan and Orion Towers under strict conditions to preserve competition. CCP required independent boards, non-overlapping management roles and strong governance practices across the Etisalat-backed PTCL Group.
Additional safeguards include limitations on predatory pricing, mandatory arm’s-length transactions, non-discriminatory access to telecom infrastructure, and oversight from an independent monitor who will submit quarterly compliance reports for five years. CCP also directed PTCL to seek PTA approval for wholesale pricing related to IP bandwidth, long-distance international services, leased lines and infrastructure provided to licensees, including the merged operator.
The watchdog stressed that efficiency gains from the merger must translate into better service quality, competitive tariffs and stronger network investment for consumers.
PTCL originally signed the Share Purchase Agreement with Telenor Group in December 2023 to acquire 100 percent of its Pakistan operations. The deal was completed in August 2024 and received CCP Phase-II approval on 1 October 2025. With PTA’s decision expected within days, the merger is set to reshape Pakistan’s telecom landscape and strengthen the combined Ufone–Telenor footprint ahead of the pivotal 2026 5G auction.
