In July 2026, Telenor Pakistan was officially merged into Pakistan Telecommunication Mobile Limited (PTML), the operating entity of Ufone, marking the formal completion of one of the largest consolidation deals in Pakistan’s telecommunications history. The merger stems from a share purchase agreement signed by its parent company PTCL in December 2023, under which PTCL acquired 100% stakes in Telenor Pakistan and Orion Towers for approximately USD 400 million. All regulatory approvals for the transaction were obtained and the deal was formally closed on December 31, 2025.
Regulatory approval for the merger took several months and involved multiple authorities. The Competition Commission of Pakistan conditionally approved the acquisition in October 2025, while the Pakistan Telecommunication Authority (PTA) granted technical approval on March 24, 2026, followed by the issuance of a No Objection Certificate (NOC) subject to 18 pages of strict conditions. The PTA requires the merged entity to submit a network integration plan within 60 days, and sets quality of service targets of a median speed of 20 Mbps within two years, 35 Mbps within four years, and 50 Mbps within nine years. Retail or wholesale tariffs may not be adjusted without the prior approval of the PTA, and predatory pricing and cross-subsidization are explicitly prohibited. Franchise and retailer agreements must remain unchanged for at least six months after the merger.
The Islamabad High Court formally approved the merger plan on June 30, 2026, ruling that it complies with the requirements of the "Companies Act 2017", is fair and lawful, and is not contrary to the public interest. The court ordered the transfer of all assets, rights and liabilities of Telenor Pakistan to PTML, and Telenor Pakistan will be dissolved as an independent legal entity with immediate effect. Following the merger, PTML serves over 74 million subscribers, holds an approximately 35.9% market share, and has become Pakistan’s second-largest mobile operator, very close to market leader Jazz’s 36.4% share. The Chairman of the PTA previously disclosed that the number of active SIM cards in Pakistan had reached 210 million, and this merger reduces the number of mobile operators in Pakistan from four to three. A senior Ufone executive estimated that approximately 4 million subscribers may switch to other operators during the integration period due to the network and system consolidation.
