Islamabad: Pakistan Telecommunication Company Limited (PTCL) has scheduled its ninth Extraordinary General Meeting (EGM) for November 20, 2025, at 11:00 a.m., to be held at the PTCL Nest Office in Islamabad. The meeting’s primary agenda includes the acquisition of 100% shares in Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited from Telenor Pakistan BV.
On October 29, 2025, PTCL issued a notice detailing the proceedings of the upcoming EGM. The shareholders will confirm the minutes of the thirtieth Annual General Meeting held on April 30, 2025, as part of the ordinary business of the meeting.
The special business of the EGM will focus on several resolutions, including the authorization for PTCL to acquire all shares of Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited. This acquisition is outlined in the Share Purchase Agreement (SPA) dated December 14, 2023, which was previously approved by PTCL’s Board of Directors in several meetings throughout 2023 and 2024.
According to information available from the Pakistan Stock Exchange (PSX), PTCL intends to fund this acquisition through a finance facility of up to USD 400 million. This financing will be secured from the International Finance Corporation, Silk Road Fund, British International Investment, and other lenders. The terms of the financing are detailed in a Common Terms Agreement dated June 27, 2024.
The acquisition, which involves 8,512,110,269 shares of Telenor Pakistan (Private) Limited and 50,000 shares of Orion Towers (Private) Limited, is strategically significant for PTCL. It aims to enhance PTCL’s market position in Pakistan’s mobile and cellular sector, offering opportunities for revenue synergies and improved service delivery.
To facilitate the participation of shareholders, PTCL has encouraged members to attend the EGM through video-link or by proxy. The Securities and Exchange Commission of Pakistan (SECP) has prohibited the distribution of gifts to shareholders at such meetings, and PTCL will comply with all regulatory guidelines.
The Share Transfer Books of PTCL will be closed from November 14 to November 20, 2025. Members wishing to attend the EGM must register their credentials by email before November 17, 2025. Further details on participation and proxy arrangements are outlined in PTCL’s notice.
This acquisition marks a pivotal step for PTCL in consolidating its operations and achieving sustainable growth in Pakistan’s telecommunications market.