CCP launches Phase II review of PTCL-Telenor acquisition

KARACHI: The Competition Commission of Pakistan (CCP) has officially commenced its Phase II merger review of Pakistan Telecommunication Company Limited’s (PTCL) acquisition of 100 per cent shareholding in Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT).

The first hearing was held under the leadership of CCP Chairman Dr Kabir Ahmed Sidhu, accompanied by commissioners Salman Amin and Abdul Rashid Sheikh.During the hearing, senior counsel Rahat Kaunain Hassan represented PTCL, highlighting the significant economic benefits and growth opportunities that the merger could bring to the telecommunications sector in Pakistan. Key executives, including PTCL President & Group CEO Hatem Bamatraf and senior management members, provided valuable insights into the strategic vision behind the acquisition.

The commission also heard from M/s Wateen Telecom Limited, represented by Mian Sami-ud-Din, who presented his preliminary submissions regarding the merger.Notable attendees included CEO of Telenor Pakistan Khurram Ashfaque; CEO of Orion Towers Andreas Hogberg; Group Director of Regulatory Strategy & Compliance (PTML) Fawad Ahmad Khan; and DG Wireless Licensing (PTA) Amer Shahzad. Representatives from Jazz, Wateen, Transworld Associates, Cm Pak LDI Ltd, and the Frequency Allocation Board were also present to observe the proceedings.

The CCP’s Phase II merger review, conducted under Section 11(6) of the Competition Act 2010, aims to evaluate market share dynamics and assess potential risks associated with market concentration.

As the review progresses, the CCP encourages all stakeholders to provide their feedback and insights.The next hearing is scheduled for October 2, 2024, where Wateen will present further arguments, and additional stakeholders will make their submissions regarding the proposed merger.