ISLAMABAD: Telenor Pakistan‘s operations as an independent company is over. The Islamabad High Court approved its amalgamation into Pak Telecom Mobile Limited (PTML) on Tuesday, closing out a merger that has been in motion since late last year.
PTCL notified the Pakistan Stock Exchange the same day. Company Secretary Zahida Awan filed the disclosure under Rule 5.6.1 of the PSX Rule Book, read with Section 96 of the Securities Act, 2015. Both companies Telenor Pakistan and PTML belong entirely to PTCL, so this was, in a sense, a transaction within the family.
What the scheme actually does is straightforward on paper, less so in scale. PTML takes over Telenor Pakistan’s full undertaking as a going concern every asset, every liability, every obligation spelled out in the amalgamation scheme. PTCL cancels its shareholding in Telenor Pakistan altogether. There’s no winding-up process here, no liquidator, no creditor queue. The court order dissolves the company outright, and the Registrar of Companies will remove its name from the register.
PTA Conditions After Telenor Pakistan Merger
This has been building for months. PTCL first announced the Telenor acquisition in December 2025, and the deal closed in January at roughly NOK 5.3 billion about $547 million at the time. From there, it moved through the regulatory pipeline in stages. PTA gave technical clearance for the operational merger in March, then issued a conditional NOC in April. That NOC came with strings attached: PTML had to take on every regulatory obligation Telenor Pakistan carried and keep honouring existing licence terms right up until the court finished the legal side.
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Some of those conditions stay in force well beyond the merger date. PTML cannot touch retail or wholesale tariffs without PTA’s sign-off first. Predatory pricing is off the table, as is cross-subsidisation between the two networks. Separate rules will govern shared towers with Jazz and Zong, and PTML must give any franchisee it terminates after the merger at least six months’ notice.
Telenor Pakistan Merger Impact on Customers
The numbers explain why regulators paid such close attention. The combined company now counts close to 72 million subscribers, putting it just behind Jazz’s 74 million and comfortably ahead of Zong’s 54 million. What was a four-operator market becomes a three-operator one — a shift PTA itself noted as a competition concern before it signed off.
For ordinary users, not much changes immediately. PTA has confirmed that existing Telenor SIM numbers continue working on the Ufone network without any interruption. PTCL President and Group CEO Hatem Bamatraf has said the priority right now is integrating the two networks; a decision on rebranding will come later.
One part of Telenor’s Pakistan business stays outside all of this. Easypaisa, the group’s digital finance arm, was not included in the amalgamation. People familiar with the matter say a sale or strategic partnership for Easypaisa is being discussed, though nothing has been confirmed publicly.
