CCP Initiates Phase II Merger Review Hearings for PTCL-Telenor Acquisition

ISLAMABAD: The Competition Commission of Pakistan (CCP) has conducted its inaugural hearing for the Phase II Merger Review regarding PTCL’s acquisition of full ownership in Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT). The session was led by CCP Chairman Dr. Kabir Ahmed Sidhu, alongside members Mr. Salman Amin and Mr. Abdul Rashid Sheikh.

Senior Counsel Ms. Rahat Kaunain Hassan represented PTCL, highlighting the potential economic advantages and growth prospects this transaction could offer to Pakistan. Mr. Hatem Bamatraf, President & Group CEO of PTCL, along with Mr. Robert Middlehurst and senior management from PTCL, provided important insights into the merger.

The Commission then allowed M/s Wateen Telecom Limited, represented by Mian Sami-ud-Din, to present their preliminary arguments.

Other notable participants included Mr. Khurram Ashfaque, CEO of Telenor Pakistan, Mr. Andreas Hogberg, CEO of Orion Towers, Mr. Fawad Ahmad Khan, Group Director of Regulatory Strategy & Compliance (PTML), Mr. Amer Shahzad, DG Wireless Licensing (PTA), and representatives from Jazz, Wateen, Transworld Associates, Cm Pak LDI Ltd, and the Frequency Allocation Board.

The CCP’s Phase II Merger Review, carried out under Section 11(6) of the Competition Act 2010, focuses on analyzing market share dynamics and potential risks associated with market concentration. As the review progresses, the CCP encourages stakeholders to share their feedback.

The next hearing is set for October 2, 2024, where Wateen will present its arguments regarding the merits of the merger, and other stakeholders will also submit their perspectives.