04 September 2023
The board of Pakistan Telecommunication Company Limited (PTCL) has approved plans to acquire Telenor Pakistan with a binding offer to be tabled this month.
PTCL made the announcement on the Pakistan Stock Exchange after the board concluded its due diligence on the potential acquisition.
Sources stated a final price will be agreed between US$500-700 million. PTCL was reported to have prepared a non-binding offer in February to acquire Telenor’s unit for up to US$1.2 billion, after gaining confirmation from the State Bank of Pakistan regarding mode of payment.
