PTCL bought Telenor Mobile Company: Pakistan Telecommunication Company Limited (PTCL) has announced to buy 100% shares of Telenor, a telecom company in Pakistan.
It may be recalled that Telenor Pakistan had hinted at exiting the country since last year amid the rising cost of doing business.
According to the statement issued by PTCL, the agreement for the purchase of 100% shares of Telenor Pakistan has been concluded, the purchase of 100% shares will be for 108 billion rupees.
After buying Telenor, PTCL will become the largest mobile operator in Pakistan. PTCL and PTML President and Group CEO Hatim Bamtaraf expressed confidence in the collaboration with Telenor Pakistan.
He said that we believe that the strategic synergy between PTCL and Telenor Pakistan will be very beneficial for our customers and stakeholders, as the real benefit from this agreement will be our customers.