PSO denies plans to acquire Telenor Pakistan

March 02, 2023 (MLN): Pakistan State Oil Company Limited (PSO) on Thursday denied recent news reports suggesting that it plans to acquire Telenor Pakistan.

According to a statement released by PSO, the company has no interest or desire in acquiring Telenor's businesses in Pakistan.

The news article, which was published in print media on February 28, 2023, claimed that PSO was planning to conduct due diligence on Telenor's operations in Pakistan.

However, PSO has categorically denied these claims, stating that it has not taken any concrete steps with respect to Telenor's mobile operations in Pakistan.

PSO did not completely dismiss the possibility of considering an acquisition of Telenor's Easy Paisa mobile payment platform. However, the company clarified that it has not yet taken any concrete steps in this regard and will share any information as and when things materialize.

The news article in its printed form has been refuted by PSO, putting to rest any speculation about a potential acquisition of Telenor Pakistan by the state-owned oil company.

PSO is a leading oil marketing company in Pakistan, with a strong presence in the energy sector. Telenor Pakistan, on the other hand, is a telecommunications company, which offers mobile services and mobile financial services in the country.

The two companies operate in different sectors, and it is unclear what PSO's interest in Telenor's businesses might have been.

With the company's statement denying any plans to acquire Telenor Pakistan, it seems that the matter has been put to rest.

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