Dr. Umar Saif, the Caretaker Federal Minister for Information Technology & Telecommunication, engaged with the leadership teams of Pakistan Telecommunication Company Limited (PTCL) and Telenor, unveiling significant plans for the telecom industry.
Expressing his views post-meeting, the minister highlighted the acquisition of Telenor Pakistan by Ufone/PTCL as a transformative move set to elevate telecom services. This strategic merger aims to blend the strengths of Telenor and Ufone networks, promising improved services like the advent of 5G technology.
Met with leadership teams of Ufone/PTCL and Telenor.
— Umar Saif (@umarsaif) December 14, 2023
Pending regulatory approvals, Ufone/PTCL is acquiring Telenor Pakistan, resulting in a much bigger and more valuable asset for the Etisalat group. This will usher in a new era of improved telecom services for Telenor and Ufone… pic.twitter.com/SSy6VuTYuD
Emphasizing the positive implications of industry consolidation, the minister hailed this step as a catalyst for increased investments within Pakistan’s telecom sector. He also confirmed the imminent spectrum auction, signaling further advancements in the domain.
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Earlier on the same day, PTCL, under the e& Group (e&), announced the complete acquisition of Telenor Pakistan. Notably, this acquisition pertains solely to Telenor’s telecom business, excluding Easypaisa from the transaction.
