ISLAMABAD-PTCL and Ufone Chief Executive Officer (CEO), Hatem Bamatraf, announced on Thursday the acquisition of a 100 percent stake in Telenor Pakistan (Pvt) Ltd (Telenor Pakistan).
During a press conference attended by high officials of the PTCL Ufone Group, he said that this strategic alignment would bring significant benefits for consumers and stakeholders alike. Bamatraf highlighted that the primary beneficiaries of this deal would be the consumers, who can expect improved services as a result of this integration. He mentioned that the joint entity, with its diverse range of products and services, was committed to delivering the best services across all sectors. “The collaborative agency aims to provide consumers with an extensive range of products and services,” he added.
The merger of Telenor will play a crucial role in establishing a modern network infrastructure in Pakistan, contributing to the country’s technological advancement. He hoped that the collaboration would bring additional benefits to consumers and stakeholders, contributing to the creation of a historic telecommunications system that fosters connectivity and supports the digital transformation journey. He said that the completion of the acquisition was subject to regulatory approvals and customary closing conditions. PTCL is actively working towards a smooth transition process to ensure minimal disruption for employees, customers, and other stakeholders, he said and added, the acquisition brings together the strengths and expertise of both PTCL Group and Telenor Pakistan, creating synergies that will drive innovation and bolster the market, allowing us to reach a broader customer base and accelerate the digital transformation journey, he said. He expressed the confidence that the strategic synergies created by combining forces with Telenor Pakistan would result in enhanced value for customers and stakeholders, as they were the ultimate beneficiaries of this transaction.
He further said that both PTCL and Telenor possessed strong and talented teams that would be dedicated to developing a culture of delivery and teamwork by adopting the best practices of both companies. “The combined entity will serve as a best-in-class provider across all domains with better coverage, seamless data experience, massive reach, and a wide range of products and services for customers,” he added. Group CEO Hatem Dowidar said, “The strategic acquisition of Telenor Pakistan presents a significant opportunity for market consolidation, empowering us to invest more in creating the best next-generation network in Pakistan. This move reinforces our commitment to the progress of the country’s telecom sector, delivering added value to our customers and shareholders. In shaping a telecom legacy where innovation and connectivity merge to explore future opportunities, we aim to accelerate digital transformation to better serve our customers and community.” Hassan Nasir Jamy, Chairman of PTCL Board, said, “PTCL Group has played a pivotal role in connecting the people of Pakistan. This commitment further solidifies our resolve to build a prosperous and digitally connected nation and to be the national champion to support Pakistan’s digital transformation. This agreement will go a long way in ensuring that we provide our customers with the most efficient and technologically advanced solutions.”