Islamabad High Court Approves Telenor Pakistan's Merger into Ufone

en.Wedoany.com Reported - The final legal approval for Pakistan's largest telecom merger has been granted. The Islamabad High Court has approved the scheme for Telenor Pakistan Private Limited to merge into Pakistan Telecom Mobile Limited (PTML), clearing the final legal hurdle for the integration of the two operators.

The merged entity plans to gradually phase out the Ufone and Telenor brands, adopting the e& logo under the UAE-based group, a move aimed at aligning with e&'s global brand unification strategy.

According to a notice submitted to the Pakistan Stock Exchange, the court-approved scheme stipulates that all business operations of Telenor Pakistan will be transferred as a going concern to PTML, including all its assets, liabilities, and obligations. Simultaneously, all shareholdings of Pakistan Telecommunication Company Limited (PTCL) in Telenor Pakistan will be canceled upon the merger. Following the completion of the process, Telenor Pakistan will be dissolved without being liquidated, and its name will be struck from the records of the Company Registration Office.

The court's approval was based on the merger having received a No Objection Certificate (NOC) from the Pakistan Telecommunication Authority and the unanimous consent of all secured creditors of both companies. The International Finance Corporation consortium has also separately submitted an NOC to the Securities and Exchange Commission of Pakistan. Justice Khadim Hussain Soomro approved the scheme under the relevant provisions of the Companies Act, 2017, ruling that the merger complies with legal requirements, is fair to shareholders and creditors, and does not violate public interest.