Ongoing exit process in Pakistan: Telenor Group reports first approval from CCP

ISLAMABAD: Telenor Group said the first approval from Competition Commission of Pakistan (CCP) was received in conjunction with the ongoing exit process in Pakistan, however, the expected closing of the transaction may slip into 2026.

The Group in the third quarter report stated that in Pakistan, macroeconomic indicators have improved slightly but remain vulnerable to external shocks and political volatility.

Telenor signed an agreement to sell 100 percent of its Pakistan telco operations to Pakistan Telecommunications Company Ltd (PTCL) in December 2023. On 30 September 2025, the CCP has approved the transaction. With this milestone reached, Telenor is seeking approval from the Pakistan Telecommunication Authority (PTA) to complete the transaction.

Telenor Pakistan is not presented as discontinued operation as there are uncertainties related to remaining regulatory approvals and other customary terms and conditions attached to the agreement.

“We anticipate receiving the remaining approvals in the coming months. The first approval from authorities has been received in conjunction with the ongoing exit process in Pakistan. While we foresee a more expeditious process from this milestone on, the expected closing of the transaction may slip into 2026,” the group added.

The group further stated that Pakistan continued to demonstrate strong momentum. Along with the positive contribution from Grameenphone, this resulted in 4.4 percent organic growth in service revenues and 4.1 percent organic growth in adjusted EBITDA for business area Asia.

It further stated that Telenor Pakistan delivered solid service revenue growth of 15.1 percent, mainly driven by continued monetisation efforts and overall rational market behaviour. Growth was primarily driven by data revenues, as voice revenues showed a decline. Average Revenue Per User (ARPU) increased by 18 percent and the subscription base declined by four percent compared to the same period last year.

Opex increased by 7.1 percent on an organic basis, driven by contractual increases in operation and maintenance costs, as well as topline driven marketing and commission costs. Organic growth in adjusted EBITDA ended at 17.1 percent, driven by the impressive topline growth.

Copyright Business Recorder, 2025