Pakistan Telecommunication Company Limited (PTCL) has announced that it has obtained a key regulatory approval from the Pakistan Telecommunication Authority (PTA) for its planned acquisition of Telenor Pakistan and Orion Towers, marking a major step forward in one of the telecom sector’s largest buyouts.
In a notice to the Pakistan Stock Exchange (PSX) on Monday, PTCL confirmed that the PTA has issued a no-objection certificate (NOC) for the change of control.
“Further to our letter dated December 14, 2023, whereby it was informed that consequent to the approval of the Board of Directors of Pakistan Telecommunication Company Limited, PTCL entered into Share Purchase Agreement dated December 14, 2023 with Telenor Pakistan BV for the acquisition of the entire issued share capital of Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited,” read PTCL’s notice sent to the PSX.
The approval follows PTA’s earlier conditional decision issued on November 30, 2025, which PTCL subsequently accepted. The company stated that the deal, originally formalised through a Share Purchase Agreement (SPA) signed with Telenor Pakistan BV in December 2023, covers the “entire issued share capital” of both Telenor Pakistan (Pvt) Ltd and Orion Towers (Pvt) Ltd.
However, PTCL emphasised that the transaction is still not fully complete. The disclosure notes that finalisation remains contingent on other corporate approvals, completion of formalities, and signing of necessary agreement(s)/instrument(s) and closing obligations.
The company assured the stock exchange that any further developments will be communicated in line with regulatory requirements.
The acquisition represents one of the largest consolidation moves in Pakistan’s telecom sector in recent years, giving PTCL Group full control over Telenor Pakistan’s operations once the remaining approvals are secured.
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