CCP Begins Hearings on PTCL’s Acquisition of Telenor Pakistan
— September 30, 2024
ISLAMABAD (AIA) The Competition Commission of Pakistan (CCP) commenced its Phase II Merger Review hearings regarding PTCL’s acquisition of 100% shareholding in Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT).
The hearing was presided over by CCP Chairman Dr. Kabir Ahmed Sidhu, alongside members Salman Amin and Abdul Rashid Sheikh, according to a press release issued on Monday.
Senior counsel Rahat Kaunain Hassan represented PTCL, highlighting the potential economic benefits and growth opportunities the transaction could bring to Pakistan. PTCL’s President and Group CEO, Hatem Bamatraf, along with Robert Middlehurst and other senior management, also presented key insights into the merger.
Wateen Telecom Limited, represented by Mian Sami-ud-Din, made its initial submissions during the hearing.
Other notable attendees included Khurram Ashfaque, CEO of Telenor Pakistan; Andreas Hogberg, CEO of Orion Towers; Fawad Ahmad Khan, Group Director of Regulatory Strategy & Compliance (PTML); Amer Shahzad, Director General of 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, focuses on evaluating market share dynamics and the potential risks posed by market concentration. The Commission has encouraged all stakeholders to contribute their input as the review progresses.
The next hearing is scheduled for 2 October, during which Wateen will present its arguments on the merits of the merger, along with submissions from other stakeholders.