Competitors raise concern over telecom merger

As one of the largest mergers in Pakistan’s telecom sector is underway, the Competition Commission of Pakistan (CCP) has said that the decision on acquisition of Telenor Pakistan by Pakistan Telecommunication Company Limited (PTCL) could be delayed as competitors have expressed concern over the plan. In a statement, the CCP said that a pre-merger application about PTCL’s intention to acquire 100% shareholding of Telenor Pakistan and Orion Towers was received on February 29, 2024. However, the application was submitted with an incorrect fee and the remaining fee was sent to the commission on March 6, 2024. Later, to complete due diligence, further information was sought but PTCL’s legal teams had yet to submit the required information. CCP pointed out that “after all the relevant documents and information is received, the commission has 30 working days to complete its due diligence, for the first phase review”.