The Competition Commission of Pakistan (CCP) confirmed on Monday that PTCL’s application to acquire Telenor Pakistan is still under review.
In a statement, the CCP clarified that PTCL seeks to acquire 100% ownership of both Telenor Pakistan (Private) Limited and Orion Towers Private Limited.
The application process has seen some delays. While PTCL’s lawyers submitted the initial application on February 29, 2024, there was an error with the fee. The outstanding amount was settled by March 6th. Additionally, the CCP requested further information on March 20th to complete its review, which PTCL’s lawyers haven’t provided yet.
The CCP has 30 working days to assess the application once they receive all the necessary information. The ongoing review of 20 other merger applications further contributes to the processing timeline.
This acquisition would significantly impact Pakistan’s mobile telecommunications landscape. Currently, there are five major players: Jazz, Zong, Telenor Pakistan, Warid, and Ufone (a subsidiary of PTCL). With Jazz acquiring Warid in 2016, PTCL’s acquisition of Telenor would reduce the number of competitors further.
The CCP has received concerns from competitors regarding the potential merger’s impact on competition. They emphasized completing a thorough due diligence process before reaching a decision.
The Commission urged media outlets to avoid speculation and disseminating premature information about the merger.
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