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| PTCL Engages in Advanced Negotiations with IFC for $400 Million Loan to Acquire Telenor |
PTCL in Advanced Negotiations with IFC for $400 Million Loan to Acquire Telenor Pakistan.
Pakistan Telecommunication Company Ltd (PTCL) is currently in advanced discussions with the International Finance Corporation (IFC), a part of the World Bank, regarding a $400 million loan intended to facilitate the purchase of Telenor Pakistan.
The latest report from TheNews indicates that Telenor's Board of Directors is expected to convene in November/December 2023 to assess and potentially approve a binding offer.
Notably, only 26% of the shares are owned by another stakeholder, with the majority of the loan liabilities expected to be borne by the Government of Pakistan. It's worth mentioning that Telenor has not yet submitted any formal application to the Pakistan Telecommunication Authority for the proposed sale, and regulatory approvals, including those from the Competition Commission of Pakistan, would be sought once the deal receives approval from Telenor's Board of Directors.
