PSO Denies Plans to Buy Telenor Pakistan
Just recently, the news came across that Pakistan State Oil Company Limited (PSO) is showing interest in acquiring Telenor Pakistan. However now, the latest report revealed that PSO denied recent news reports suggesting that it plans to buy Telenor Pakistan.
PSO Denies Plans to Buy Telenor Pakistan
Check also: Telenor Pakistan Partners with PSO to Offer Branchless Banking Services for Customers
According to a statement released by PSO, the company has no interest or desire in acquiring Telenor’s businesses in Pakistan.
The news article, which was published in print media on February 28, 2023, claimed that PSO was planning to conduct due diligence on Telenor’s operations in Pakistan.
However, PSO has categorically denied these claims, stating that it has not taken any definite steps with respect to Telenor’s mobile operations in Pakistan.
On the other hand, PSO did not completely dismiss the possibility of considering an acquisition of Telenor’s Easy Paisa mobile payment platform. Nonetheless, the company clarified that it has not yet taken any concrete steps in this regard. However, the company will share any information as and when things materialize.
Telenor Pakistan is a telecommunications company, which offers mobile services and mobile financial services in the country. On the other hand, PSO is a leading oil marketing company in Pakistan, with a strong presence in the energy sector.
The two companies operate in different sectors, and it is unclear what PSO’s interest in Telenor’s businesses might have been. We will surely get official information about this in the coming weeks.
See Also: PSO Plans to Acquire Telenor Pakistan and EasyPaisa
