PTCL purchased Telenor Cellular Firm for what number of billions?

Pakistan Telecommunication Firm Restricted (PTCL) has introduced to purchase 100% shares of Telenor, a telecom firm in Pakistan.

It might be recalled that Telenor Pakistan had hinted at exiting the nation since final 12 months amid rising price of doing enterprise.

In accordance with the announcement made by PTCL, the settlement for the acquisition of 100% shares of Telenor Pakistan has been concluded, the acquisition of 100% shares shall be for 108 billion rupees.

After shopping for Telenor, PTCL will change into the biggest cell operator in Pakistan.

PTCL and PTML President and Group CEO Hatim Bamtaraf expressed confidence within the collaboration with Telenor Pakistan.

He mentioned that we imagine that the strategic synergy between PTCL and Telenor Pakistan shall be very useful for our prospects and stakeholders, as the true profit from this settlement shall be our prospects.

He mentioned that each PTCL and Telenor have sturdy and proficient groups that may undertake the very best qualities of each firms to ship high quality providers and foster a tradition of collaboration.

Alternatively, E&Okay Group CEO Hatim Davidar mentioned that the acquisition of Telenor Pakistan is a superb alternative for market consolidation, which can assist us construct a future-proof community in Pakistan.

He additional mentioned that this settlement reinforces our dedication to develop Pakistan’s telecom sector, which can allow us to ship further advantages to our prospects and stakeholders.

He mentioned that we need to create a landmark telecom system, the place via built-in innovation and connectivity, alternatives might be created to higher serve customers and all folks and speed up the digital transformation journey sooner or later.

Aside from this, PTCL Board Chairman Hasan Nasir Jami mentioned that PTCL Group has a key function in offering communication amenities to the folks of Pakistan.

Expressing confidence, he mentioned that collectively they’ll play a job in Pakistan’s digital transformation. Our willpower to take action has been strengthened.’

In accordance with the announcement, the sale shall be accomplished in 2024, topic to regulatory approval.