Ufone, Telenor merger clears regulator hurdle

Details: Manny Pham; Category: Operators; 24 March 2026; 12007 views

Pakistan Telecommunication Company Limited (PTCL) has received regulatory approval to merge its subsidiary, Pak Telecom Mobile Limited (PTML), with Telenor Pakistan, following its recent acquisition of the operator.

In a stock exchange filing, PTCL confirmed that the Pakistan Telecommunication Authority approved the amalgamation of PTML - which operates under the Ufone brand - and Telenor Pakistan on March 19.

The transaction remains subject to the fulfilment of standard conditions, including unconditional approvals within the next 15 days. The merger will be executed through a scheme of arrangement in line with applicable laws.

Once completed, the deal will reshape Pakistan’s telecoms landscape into a three-player market, with Jazz, Zong (China Mobile), and the combined Ufone/Telenor entity competing for market share.

According to the latest data from the regulator, Jazz currently leads with 74 million monthly mobile subscribers, followed by Zong with 54 million. Telenor and Ufone stand at 43 million and 29 million subscribers respectively.

The integration of Ufone and Telenor will create a combined customer base of around 72 million, positioning the merged entity as the second-largest operator in the market - just 2 million subscribers behind Jazz - and a significantly stronger challenger.

PTCL first announced the acquisition of Telenor Pakistan in December, with the deal finalised in January for NOK5.3 billion (approximately US$547 million). The move followed a prolonged effort by Telenor to exit the market as part of a broader strategy to divest non-core assets.

The Norwegian group has also exited Thailand through the sale of its stake in True Corporation, and has reportedly been weighing a potential withdrawal from Bangladesh.

Prior to its exit from Thailand, Telenor’s Head of Asia, Jon Omund Revhaug, told Developing Telecoms that the company was focused on strengthening its remaining Asian portfolio.

The shift reflects a wider industry trend, with mobile operators increasingly pulling back from non-core markets as they contend with the high costs of 5G deployment and stagnating revenue growth.