Etisalat urges Pakistani PM to intervene in Ufone-Telenor merger stalemate

ISLAMABAD (Zubair Kasuri): Etisalat, the UAE-based telecommunications giant, has formally appealed to Pakistani Prime Minister Shehbaz Sharif to intervene in the prolonged merger process between Ufone and Telenor Pakistan, sources within the Ministry of IT and Telecommunication have revealed.

The appeal comes as the Competition Commission of Pakistan (CCP) has yet to render a decision on the proposed merger, which was announced over a year ago.

According to company sources, a letter sent to the Prime Minister detailed the ongoing situation, emphasizing Ufone’s significant investment and service contributions to Pakistan’s telecommunications sector.

The merger, which would see Ufone acquire Norwegian-owned Telenor Pakistan, has been stalled despite the submission of all required legal documentation to the CCP.

Etisalat expressed frustration over the CCP’s protracted decision-making process, despite repeated submissions of comprehensive legal documentation. The letter urged Prime Minister Sharif to initiate a high-level inquiry and expedite a resolution, citing significant financial losses for both companies and hindered developmental progress.

The company further argued that the delay not only impacts the operational efficiency of the involved telecommunication firms but also results in a substantial loss of potential tax revenue for Pakistan’s national treasury.

Sources from both Ufone and Etisalat confirmed that the matter has been escalated to diplomatic channels. There is growing anticipation that the Pakistani government will take swift action to resolve the impasse in the coming days, addressing the concerns raised by the UAE-based company.