The Telenor Group has expressed concerns over the prolonged delays in the proposed sale of its Pakistani operations to Pakistan Telecommunication Company Limited (PTCL), while the delay was leading to continual decline in the customer base of Telenor Pakistan
In the first quarter report of current calendar year released in Norway, Telenor International has said that obtaining the necessary regulatory approvals for divestment of Telenor Pakistan has taken more time than anticipated.
At the same time the parent company of Telenor Pakistan, has also said the disinvestment was expected in second half of 2025.
It added that Telenor announced the sale of its Pakistan telco operations in December 2023, the sale is subjected to regulatory approvals and other customary terms and conditions.
“We continue to engage with the authorities to obtain the approvals, considering the strong merits of the case for all stakeholders, we still anticipate receiving the required approvals in the coming months, with subsequent closing of the transaction in the second half of 2025,” the report added.
Due to the delay in sale of Telenor Pakistan, its consumer base continued to erode and faced a decline of 3.1 percent during Jan- March 2025.
The first quarter financial report has said that Average revenue per unit (ARPU) of Telenor Pakistan increased by 12.5 percent, due to improved macroeconomic stability, and lower energy prices helped ease cost pressures.
The report highlighted that revenue witnessed a growth of 14.0 percent during Jan- Mar 2025 to Norwegian Kroner (NOK)1.07 billion that amounts to the around Rs27.02 bn, based on the exchange rate of NOK0.0396 to PKR1.
The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of Telenor Pakistan was NOK592million in Q1 2025 – around Rs14.94 billion compared to NOK474 million or Rs11.96 billion in the first quarter of 2024.
The report has highlighted that the total revenue of Telenor Pakistan in the financial year 2024 was NOK4.75 bn that is around Rs120 bn, meanwhile sources in the company informed that Telenor Pakistan had ended the year in profits.
Business area of Telenor in Asia consists of Grameenphone in Bangladesh with 55.8 percent ownership, Telenor Pakistan 100 percent ownership, the associated companies CelcomDigi in Malaysia 33.1 percent ownership and True Corporation in Thailand 30.3 percent ownership, as well as the joint venture Easypaisa digital bank in Pakistan 55 percent ownership and the regional offices in Bangkok and Singapore.
