The Telenor Ufone merger has cleared its final legal hurdle in Pakistan after the Islamabad High Court (IHC) issued its written order formally transferring every asset, liability, and obligation of Telenor Pakistan (Private) Limited to Pak Telecom Mobile Limited, the company that operates Ufone. The order was passed by Justice Khadim Hussain Soomro and marks the end of a process that began when PTCL acquired Telenor Pakistan for roughly NOK 5.3 billion (about $547 million).
What the Court Actually Ordered
Justice Khadim Hussain Soomro sanctioned the Scheme of Amalgamation under Sections 279 to 283 and 285(8) of the Companies Act, 2017. The court ruled that the merger meets all legal requirements, is fair to shareholders and creditors, and is not against the public interest.
Under the order, the entire business of Telenor Pakistan, its network, spectrum, contracts, customer base, and all financial obligations, moves to PTML as a going concern. Telenor Pakistan does not go through a normal winding-up process; it simply ceases to exist as a separate legal entity once the merger takes full effect.
The court also directed the petitioner to file a certified copy of the order with the Registrar of Companies and the Securities and Exchange Commission of Pakistan (SECP), which must then complete all remaining legal formalities to make the merger operational.
How the Telenor Ufone Merger Was Approved Step by Step
This approval did not come overnight. Here is the full chain of events that led here:
- October 2025: The Competition Commission of Pakistan (CCP) cleared PTCL’s acquisition of 100% of Telenor Pakistan, subject to conditions designed to protect market competition.
- January 2026: PTCL formally submitted the merger application to the Pakistan Telecommunication Authority (PTA).
- March 2026: PTA issued its final No Objection Certificate (NOC), clearing the technical side of the merger.
- June 5, 2026: Shareholders of both PTML and Telenor Pakistan unanimously voted in favour of the scheme at separate general meetings. All secured creditors also submitted their NOCs, and the International Finance Corporation (IFC) consortium submitted its own NOC before the SECP.
- June 30, 2026: The IHC issued its court order approving the Scheme of Amalgamation.
- July 14, 2026: The written order was formally issued, completing the court process.
What This Means for Pakistan’s Telecom Market
The numbers tell a striking story. As of May 2026, Pakistan had more than 206 million mobile subscribers. Jazz led with 36.42% of the market, followed by Zong with 26.62%. The Telenor Ufone merger creates a combined share of roughly 35.91%, placing the new entity just a fraction behind Jazz for the first time in the country’s telecom history.
On paper, the combined subscriber count sits at around 74 million. However, a senior Ufone executive has acknowledged that roughly 4 million of those subscribers could switch to other networks as the two operations fully integrate. That churn risk is a real business challenge the new management must handle carefully.
For the wider market, this consolidation pushes Pakistan effectively into a three-player structure: Jazz, Zong, and the merged PTML entity. That kind of consolidation can improve investment capacity for 5G, but it also reduces the number of competitors, which is why the CCP attached conditions to its approval. You can read more about how Pakistan’s telecom infrastructure is already under pressure in our coverage of Pakistan’s telecom tower security challenges.
PTCL Share Price Jumped Sharply After the Deal
One detail most coverage missed: when PTCL first announced the Telenor acquisition in December 2023, its share price on the Pakistan Stock Exchange was trading between Rs. 22 and Rs. 24. By the time the merger formally closed, the stock had climbed to around Rs. 71. That is nearly a three-fold increase, reflecting how much investor confidence has grown as each regulatory hurdle was cleared.
Will Ufone and Telenor Brands Disappear?
Sources within PTCL have confirmed that the long-term plan is to retire both the Ufone and Telenor brand names and operate under the e& identity, reflecting the UAE-based Etisalat group’s global branding push. However, this is not happening immediately.
PTCL and PTML have both written to the PTA to register the e& brand name. The PTA has told them clearly that no new brand can be launched or advertised until the SECP issues a formal notification confirming the board composition of the merged entity. So while the legal merger is done, the rebrand is still waiting for paperwork to clear.
There is also a broader legal question: PTML is a subsidiary of PTCL, which is a state-owned enterprise. It is not a direct subsidiary of Etisalat or e&. Officials at the Ministry of Information Technology have pointed out that branding a government-linked company as e& could raise copyright and royalty issues with the UAE group. This is a complication that has not yet been resolved publicly.
What Happens to Your Telenor or Ufone SIM?
For ordinary subscribers, the short answer is: nothing changes right now. Both Telenor and Ufone networks will continue running separately during the integration phase, which is expected to last through the remainder of 2026 and beyond. Existing SIM cards, numbers, packages, and customer service channels remain active. The Telenor Ufone merger is a legal and corporate event at this stage, not an overnight switch.
Ufone has publicly committed to continuity of service for all customers of both networks throughout the transition. Integrating two mobile networks, combining spectrum, towers, billing systems, and IT infrastructure, is a multi-year technical project.
Frequently Asked Questions
Is the Telenor Ufone merger now final?
Yes, the IHC written order issued on July 14, 2026 makes it legally final. Telenor Pakistan no longer exists as a separate company. All remaining steps are operational and administrative, handled by SECP and the new management.
Will my Telenor SIM stop working after the merger?
No. Telenor SIMs, numbers, and packages will keep working normally during the integration process. Both networks are being merged gradually, and subscribers will be informed well in advance of any changes to their service.
What will the new merged company be called?
Legally, the surviving entity is Pak Telecom Mobile Limited (PTML). The plan is to eventually rebrand as e& (a name linked to UAE-based Etisalat), but the PTA has said the new brand cannot be advertised until the SECP issues a notification on the company’s board. The exact timing of the rebrand has not been confirmed.
Who owns the merged company?
The merged PTML is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL). The government of Pakistan holds around 62% of PTCL, while UAE-based Etisalat (now rebranded as e&) holds about 26% with management control.
