CCP initiates Phase II merger review hearings for PTCL-Telenor acquisition

September 30, 2024 (MLN): The Competition Commission of Pakistan (CCP) has held its first hearing for the Phase II Merger Review concerning PTCL's acquisition of 100% shareholding in Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT), according to a press release issued today. 

The hearing was presided over by CCP Chairman Dr. Kabir Ahmed Sidhu, along with members Mr. Salman Amin and Mr. Abdul Rashid Sheikh.

Senior Counsel Ms Rahat Kaunain Hassan represented PTCL, emphasizing the potential economic benefits and growth opportunities the transaction could bring to Pakistan.

Mr. Hatem Bamatraf, President & Group CEO of PTCL, Mr. Robert Middlehurst, and PTCL's senior management also shared key insights into the merger.

The Commission then offered an opportunity to Wateen Telecom Limited, represented by Mian Sami-ud-Din. He concluded his preliminary submissions.

Other key attendees 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, conducted under Section 11(6) of the Competition Act 2010, is focused on examining the market share dynamics and potential risks of market concentration.

As the review continues, the CCP encourages stakeholders to provide their input.

The next hearing is scheduled for October 2, 2024, where Wateen will present its arguments on merits and other stakeholders will also be making their submissions on the proposed merger.

Copyright Mettis Link News