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By Ariz Riaz :
All assets, liabilities and rights of Telenor Pakistan transferred to PTML as court clears amalgamation scheme
The Islamabad High Court (IHC) has approved the merger of Telenor Pakistan with Pak Telecom Mobile Limited (PTML), the parent company of Ufone, allowing all assets, properties, rights and liabilities of Telenor Pakistan to be transferred to PTML.
Following the court’s decision, Telenor Pakistan will cease to exist as a separate legal entity without going through the traditional winding-up process.
Court declares merger legally compliant
In its detailed order, the IHC said the merger scheme had received unanimous approval from the secured creditors and shareholders of both companies during separate meetings held on June 5.
The court observed that the financial interests of creditors had been adequately protected and that all legal requirements under the Companies Act, 2017 had been fulfilled.
Justice Soomro noted that the court’s role in corporate restructuring cases is mainly supervisory and that it does not replace the commercial judgment of shareholders or company management.
Creditors raise no objections
The court reviewed reports submitted by appointed chairpersons as well as no-objection certificates issued by creditors, including the International Finance Corporation (IFC)-led consortium.
After examining the available record, the court concluded that the merger arrangement was fair, lawful and did not conflict with public interest.
“The statutory requirements prescribed under the Companies Act, 2017, have been duly complied with,” the judgement stated.
Major development for Pakistan’s telecom sector
The merger marks one of the biggest corporate changes in Pakistan’s telecommunications industry in recent years.
Telenor Pakistan, one of the country’s largest mobile operators, entered Pakistan’s market in 2005 and built a subscriber base of millions of users.
The integration with PTML is expected to reshape the competitive landscape by combining Telenor Pakistan’s operations with Ufone’s existing infrastructure and resources.
Industry analysts say the merger could help improve operational efficiency, strengthen network investment capacity and create opportunities for better digital services.
Regulatory approvals completed
The transaction had already received approval from relevant authorities, including the Pakistan Telecommunication Authority (PTA) and competition regulators, before the final judicial approval.
With the IHC’s decision, the legal process for the amalgamation has been completed, allowing PTML to formally take control of Telenor Pakistan’s assets, operations and obligations.
The merger comes at a time when Pakistan’s telecom industry is undergoing consolidation as operators seek greater financial strength, improved infrastructure and increased investment in next-generation technologies such as 5G and digital services.
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