PTCL Shareholders Approve Acquisition of Telenor Pakistan and Orion Towers, Greenlight $400 Million Financing

Pakistan Telecommunication Company Limited (PTCL) shareholders have approved the company’s acquisition of 100% shares in Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited, marking a major consolidation in the country’s telecom sector. The resolutions, passed at PTCL’s 9th Extraordinary General Meeting on November 20, 2025, authorize the company to acquire all shares of both Telenor Pakistan and Orion Towers from Telenor Pakistan BV, as outlined in a share purchase agreement signed in December 2023. In addition to the acquisition, shareholders also approved PTCL’s plan to secure up to $400 million in financing from the International Finance Corporation (IFC), Silk Road Fund (SRF), British International Investment (BII), and other potential lenders. The financing will be arranged under the terms of a Common Terms Agreement dated June 27, 2024. The meeting further ratified all previous board resolutions related to the acquisition and financing, and delegated broad authority to the PTCL Board of Directors to execute all necessary steps, seek regulatory approvals, and appoint advisors to complete the transactions.