Telenor Declines Closing Operations in Pakistan

Just after Telenor Group CEO Sigve Brekke announced that the company is looking for merging opportunities in Pakistan, we started getting a lot of rumors. The internal employees started shifting to other telecom operators to secure their future. However, the overall situation at Telenor remained unknown since the company officially hadn’t announced anything. However, some sources revealed that Emirati Firm is in talks to buy Telenor Pakistan. Many believed that this Emirati firm is Etisalat which is owned by Etisalat group but since we were not sure about it, we did not mention it in our blog. Telenor Declines Closing Operations in Pakistan.

A story covered today by some media groups highlighted that the company is looking to close its operations in Pakistan due to the failure of merger efforts with Ufone. The story revealed that Syed Tariq Fatemi, Special Assistant to Prime Minister Ambassador revealed that Per Albert Ilsaas of Norway met him to raise the issues faced by two Norwegian companies operating in Pakistan namely Scatec and Telenor Pakistan.

Telenor Declines Closing Operations in Pakistan

He mentioned that Telenor is quite unhappy about the increasing cost of growing business in the country and the low profitability of the telecom sector. Per Albert also told about the failure of Telenor’s merger with Ufone and the company’s plans of closing its operations in the country.

However, Telenor Pakistan has come forward calling this revelation false. Regarding this, the company tweeted:

“We remain committed to serving our customers and connecting them to what matters the most. A media person has incorrectly reported that Telenor Pakistan is shutting down its operations. This is not true. We look forward to bringing you the best services and solutions as we have in past”

While this is what we know so far, one thing is sure, the acquisition of Telenor Pakistan is going to take place soon.

Also Read: Emirati Firm in Talks to buy Telenor Pakistan- A Major Dent to Telenor’s Asian Dreams