Islamabad, 31 January 2023 (GNP): The Pakistan Telecommunication Company Limited (PTCL) is all set to give its non-binding offer for acquiring Telenor Pakistan at a possible price range of $800 million to $1.2 billion, sources have learned.
The PTCL’s Board of Directors granted its nod last week for expressing interest in acquiring majority shares of Telenor Pakistan. They are interested in acquiring Telenor Pakistan with management control.
Etisalat, the PTCL’s parent company, will give guarantees to raise commercial loans to make this deal done. Telenor’s management has asked to make payment in US dollars, so arrangements will have to be finalized before moving ahead toward a binding offer to accomplish the deal.
Also Read: KCON 2023 performers lineup revealed
Top official sources confirmed on Monday that the PTCL interest had been conveyed to Prime Minister Shehbaz Sharif that they were interested in acquiring the shares of Telenor Pakistan. If both parties agree to the non-binding offer, then the PTCL will give its offer to accomplish this transaction, said the official sources.
