The Pakistan Telecommunication Company Limited (PTCL) on Wednesday expressed sincere appreciation to the Competition Commission of Pakistan (CCP) for successfully concluding Phase II of the review of its acquisition of Telenor Pakistan.

“We appreciate the Commission’s thoroughness in safeguarding the future outlook and long-term sustainability of Pakistan’s telecom sector. We are especially thankful to our customers, partners, and the wider telecom community who have been eagerly looking forward to this historic announcement,” PTCL said in a statement.

PTCL fully cooperated with the Commission throughout the review process and remains committed to advancing the acquisition in complete compliance with all regulatory directions and applicable laws.

This intra-sector consolidation is a pivotal step forward for Pakistan’s telecom industry, which will draw strengths from both PTML (Ufone) and Telenor to deliver best-in-class customer experience, enhanced network quality, broader coverage, and innovative digital services for their customer base, while enabling the sector to achieve greater efficiency, resilient infrastructure, and a more competitive landscape, the statement added.

Moreover, the consolidated entity will strengthen nationwide connectivity, drive innovation, and support the government’s vision of a digitally empowered Pakistan, the statement added.