Telenor Group has completed the sale of Telenor Pakistan, confirming a valuation of NOK 5.3 billion on a cash-and-debt-free basis, as originally announced on December 14, 2023. Based on September currency rates, the valuation stands at NOK 5.4 billion, subject to final year-end adjustments. In addition, Telenor received NOK 0.9 billion in cash flow from Telenor Pakistan between the announcement and completion of the transaction.
Since its launch two decades ago, Telenor Pakistan has delivered connectivity and digital services to more than 40 million customers, expanding 4G access to underserved regions and supporting digital inclusion nationwide. Its services have contributed to the growth of key sectors including agriculture, banking, and Pakistan’s technology freelancing ecosystem.
The company has also played a role in community empowerment through initiatives focused on safe internet use, digital skills development, and mobile identity, reinforcing responsible connectivity across the country.
Telenor Group CEO Benedicte Schilbred Fasmer said the transaction aligns with the group’s strategy of focusing on active ownership of market-leading positions in Asia, while enabling consolidation and innovation in Pakistan’s telecom sector. She expressed appreciation to customers, partners, and employees for their role in building Telenor Pakistan’s legacy.
Jon Omund Revhaug, Head of Telenor Asia, thanked employees for their resilience, innovation, and dedication, noting their lasting impact on Pakistan’s digital society as the company enters a new chapter.
