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PTCL bought Telenor
PTCL bought Telenor
LatestTechnology

PTCL bought Telenor Pakistan in 2023.

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PTCL bought Telenor.

Pakistan Telecommunication Limited (PTCL) has acquired the cellular company Telenor Pakistan. According to the information submitted by PTCL to the Pakistan Stock Exchange, a bid of Rs 108 billion was given to Norway’s Telenor Group for the purchase, and it encompasses a 100 percent acquisition of Telenor Pakistan, with cash and debt being eliminated.

PTCL plans to finance this acquisition through external debt, as indicated in a stock exchange filing. Telenor Pakistan currently boasts 4.5 million subscribers in the country, with the company having earned Rs 112 billion in the 12 months leading up to September.

Upon the successful completion of the acquisition, PTCL will emerge as a comprehensive provider of mobile, fixed, and microfinance services to a customer base of 7 crore people. It’s worth noting that the administrative control of PTCL lies with Etisalat, a company based in the United Arab Emirates.

In a related development, the Swiss oil marketing company Trifi Gura has signed a deal to invest $100 million in Pakistan. Additionally, Saudi Aramco has inked a deal to acquire 40 percent shares of Gas and Oil Pakistan Limited.

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