ISLAMABAD: Telenor Group has voiced concerns about the ongoing delays in selling its local operations to Pakistan Telecommunication Company Ltd (PTCL), stating that these delays have resulted in a continuous decline in Telenor Pakistan’s customer base.
In the first quarter report of the current calendar year, released in Norway, Telenor International stated that obtaining the necessary regulatory approvals for the divestment of Telenor Pakistan has taken more time than anticipated.
It hoped that Telenor Pakistan’s acquisition by the PTCL is expected to be completed in the second half of the current calendar.
Hopes acquisition by PTCL to be completed by second half of 2025
It added that the Telenor Group announced the sale of its Pakistan operations in December 2023, subject to regulatory approvals and other customary terms and conditions.
“We continue to engage with the authorities to obtain the approvals, considering the strong merits of the case for all stakeholders, we still anticipate receiving the clearance in the coming months, with subsequent closing the transaction in the second half of 2025,” the report added.
Due to the delay in the sale of Telenor Pakistan, its consumer base continued to erode and faced a decline of 3.1 per cent during Jan-March 2025.
The first quarter financial report showed that the average revenue per unit (ARPU) of Telenor Pakistan increased by 12.5pc, due to improved macroeconomic stability, and lower energy prices helped ease cost pressures.
The report highlighted that revenues grew 14pc during Jan-March to Norwegian kroner (NOK) 1.07 billion, equivalent to Rs27.02bn based on the exchange rate of NOK 0.0396 to the rupee.
The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of Telenor Pakistan was NOK592m in the first quarter — around Rs14.94bn compared to NOK474m or Rs11.96bn in the same quarter of 2024.
The report highlighted that Telenor Pakistan’s total revenue in FY24 was NOK4.75bn or Rs120bn. Meanwhile, company sources said Telenor Pakistan had ended the year with profits.
The business area of Telenor in Asia consists of Grameenphone in Bangladesh with 55.8pc stake, Telenor Pakistan 100pc, the associated companies CelcomDigi in Malaysia 33.1pc and True Corporation in Thailand 30.3pc, as well as the joint venture Easypaisa, a digital bank in Pakistan, 55pc stake and the regional offices in Bangkok and Singapore.
Published in Dawn, May 14th, 2025
