Telenor Finalizes Exit from Pakistan, PTCL Acquisition Brings Rs 25 Billion Cash Inflow

Telenor Finalizes Exit from Pakistan, PTCL Acquisition Brings Rs 25 Billion Cash Inflow

Telenor Group has officially completed the sale of its Pakistan operations to Pakistan Telecommunication Company Limited (PTCL), a subsidiary of global technology group e&, marking a major shift in Pakistan’s telecom landscape.

The deal represents one of the most significant telecom consolidations in recent years and brings substantial financial returns for the Norwegian telecom giant.

Telenor Pakistan Sale Valued at Nearly Rs 150 Billion

The transaction was first announced on December 14, 2023, valuing Telenor Pakistan at NOK 5.3 billion (Rs 147.2 billion) on a cash-and-debt-free basis.

Following the official closing:

The valuation stands at NOK 5.4 billion (Rs 149.99 billion), subject to final year-end adjustments

Telenor has already received NOK 0.9 billion (Rs 25.01 billion) in cash flow from its Pakistan operations since the announcement

This confirms a successful financial exit for Telenor after two decades of operations in the country.

Two Decades of Digital Connectivity in Pakistan

Over the past 20 years, Telenor Pakistan played a key role in expanding digital access across the country. The company connected more than 40 million customers, bringing essential telecom services to both urban and underserved regions.

Key contributions include:

Expansion of 4G services in remote and rural areas

Support for digital inclusion and mobile connectivity

Enabling growth in agriculture, banking, fintech, and freelance technology sectors

These efforts significantly contributed to Pakistan’s digital economy and employment landscape.

Community Impact and Digital Inclusion Initiatives

Beyond commercial operations, Telenor Pakistan was widely recognized for its community-driven initiatives, including:

Promoting safe and responsible internet use

Providing digital skills training

Supporting mobile identity and inclusion programs

These initiatives helped empower communities and encouraged responsible digital adoption nationwide.

Telenor Leadership Reflects on Pakistan Exit

Commenting on the transaction, Benedicte Schilbred Fasmer, CEO of Telenor Group, stated:

Telenor Group’s strategy focuses on maintaining market-leading positions in Asia while enabling consolidation and innovation in Pakistan’s telecom sector. We are grateful to our customers, partners, and employees for making Telenor Pakistan a remarkable success.

Meanwhile, Jon Omund Revhaug, Head of Telenor Asia, praised the local workforce, highlighting their resilience and innovation in shaping Pakistan’s digital future.

What This Means for Pakistan’s Telecom Industry

The completion of this acquisition marks a new phase of consolidation in Pakistan’s telecom market, with PTCL strengthening its position under the e& group.

While Telenor exits the market, its legacy of connectivity, innovation, and digital empowerment is expected to continue influencing Pakistan’s economy and technology ecosystem for years to come.