Islamabad, Oct 25: PTCL’s Share Price Soars Over 40% in Two Weeks Amidst Anticipation of Telenor Acquisition. As the acquisition of Telenor Pakistan draws nearer, the share price of Pakistan Telecommunication Company Limited (PTCL) has increased significantly on the Pakistan Stock Exchange, going from Rs. 11.91 on October 7 to Rs. 16.26 on October 25, 2024.
This indicates that throughout the reviewed period, the stock has increased by more than 40 percent. During this time, an average of almost 22 million PTCL shares have been exchanged. Since the Competition Commission of Pakistan (CCP) convened its initial hearing for the Phase II Merger Review regarding PTCL’s purchase of a 100% stake in Telenor Pakistan (Private) Limited (TP) and Orion Towers (Private) Limited earlier this month, bulls have helped to push the stock higher.
ProPakistani was informed by analysts and investors that the TP purchase has made the company a hot item in the market. They anticipate that after the acquisition is finalized, the business would see increased liquidity and rapid expansion. For the upcoming sessions, momentum is anticipated to stay positive.
According to a previous article by ProPakistani, CCP has concluded all public hearings on the acquisition of PTCL and found no problems with the agreement. The merger’s competitive advantages have been highlighted by PTCL, especially the anticipated narrowing of the market share difference between the nation’s two top telecom companies.
All parties involved, including PTCL, Wateen, Jazz, and Telenor, had the chance to voice their opinions during the most recent hearing, which was facilitated by CCP. In order to protect market competition and consumer welfare, CCP stated that it is dedicated to making sure that any possible competitive risks resulting from the transaction are adequately addressed.
In order to reduce input and customer foreclosure, PTCL described evaluation principles in order to handle potential risks. The business listed a number of anticipated benefits from the combination, such as lower costs, more network capacity, faster technology development, and the introduction of 5G services. These elements are expected to strengthen PTCL’s position in the market and competitive advantage.
When the Pakistan Telecommunication Authority (PTA) issues the Spectrum Sharing Framework, PTCL has promised the regulatory bodies that MergeCo, the recently established company, will adhere to it completely. This pledge demonstrates PTCL’s commitment to abiding by all legal obligations.
Industry sources claim that PTCL is certain that the merger will boost efficiency and competition, greatly enhancing the nation’s telecom sector. According to the corporation, the agreement would promote more innovation and long-term sustainability, which will result in the launch of new goods and services.
Investor confidence in PTCL’s audacious course and its capacity to improve Pakistan’s telecom environment is reflected in the market’s favorable reaction to the merger news. Stakeholders are hopeful about the company’s prospects for future growth and development as it proceeds with the merger. The AI would say that. We contend that after the TP-purchase, the PTCL stock will exhibit bullish momentum and strengthen its standing as one of the best investments available for the upcoming months.
