The Pakistan Telecommunication Authority (PTA) has technically approved for the merger of Telenor Pakistan and Ufone, and the Pakistan Stock Exchange (PSX) will be informed of the development today.
Speaking to a local news outlet, a senior Pakistan Telecommunication Company Ltd (PTCL) official said: "No further approvals from the board were needed, as the required permissions for the takeover and merger of Telenor Pakistan had already been granted.
“Legal approvals are the next steps, and for that, an application for amalgamation will be filed in the Islamabad High Court soon,” added the PTCL official.
The No Objection Certificate (NOC) granted allows Ufone Pakistan to enforce the integration process with Telenor Pakistan,
In total, there are around 26,000 telecom towers of the merged company — Telenor Pakistan and Ufone — many of which are located in close vicinity.
PTA has set conditions for towers shared by other telcos, including Jazz and Zong. Moreover, the authority has also imposed another restriction: any franchisee must be given at least six months’ notice before their contract is terminated.
There are currently around 202 million mobile phone subscribers — including 74.19 million for Jazz and 53.90m for Zong. The total number of mobile subscribers for the merged company will be around 72.45m.