Islamabad, The International Finance Corporation (IFC) has approved financing for PTCL Group's acquisition of Telenor Pakistan, marking a significant development in Pakistan's telecom industry. This move follows a share purchase agreement signaling major shifts in market dynamics and digital infrastructure growth.

According to Pakistan Telecommunication Company Limited, the financing approval from IFC, a World Bank Group entity, will support PTCL Group in acquiring a 100 percent stake in Telenor Pakistan. This transaction, agreed upon on a cash-free, debt-free basis, not only highlights the economic potential in Pakistan but also PTCL Group’s role in advancing the country's 'Digital Pakistan Vision.'

The share purchase agreement, signed in December, signifies a major shift in the telecom sector of Pakistan. With this acquisition, PTCL Group aims to enhance its market position and contribute to the transformation and innovation in the telecom and digital arenas of the country.

The completion of the deal is contingent on the attainment of the necessary regulatory approvals, paving the way for future growth and competition in the telecom sector.