Telenor and Ufone have officially merged into a single telecom entity, Pak Telecom Mobile Limited (PTML), following final statutory approval from the Islamabad High Court.
Two and a half years of regulatory negotiations, legal filings, and shareholder approvals — done. On July 1, 2026, Pakistan Telecommunication Company Limited (PTCL) and Ufone 4G successfully completed the integration of Telenor Pakistan. Dawn confirmed the formal amalgamation — Telenor Pakistan has ceased to exist as an independent legal entity, as its operations, infrastructure, and customer base have been fully consolidated under PTML.
What This Means for Pakistan’s Mobile Market
Pakistan’s telecom landscape just went from four major players to three.
Data released by the Pakistan Telecommunication Authority (PTA) shows that by the end of May 2026, there were more than 206 million mobile subscribers, with Jazz remaining the largest telecom operator with 36.42 percent of the total mobile subscriber base, followed by Zong with 26.62 percent. The combined share of the merged entity now stands at 35.91 percent.
That makes the new PTML virtually equal to Jazz. Following the consolidation, PTML now serves a combined subscriber base of approximately 72 million users — making it the second-largest mobile operator in the country after Jazz.
But the real number may be smaller. A senior executive of Ufone said that around 4 million out of approximately 74 million total subscribers of the merged company could leave the network in the coming months. “This is because subscribers of both Telenor and Ufone are likely to switch their SIMs to other networks soon as the operations of the two companies are fully merged,” Bloom Pakistan’s amalgamation report confirmed.
Will Ufone and Telenor Names Disappear?
This is the question 72 million subscribers are asking.
Reports suggest that the merged company is expected to discontinue both Ufone and Telenor brands after the integration process and adopt the e& identity as part of the UAE-based group’s global branding strategy. The branding question remains unsettled. It has not been officially confirmed by PTCL or e&, but multiple outlets citing sources close to the integration plan have reported the expected rebrand. No timeline has been given, and both networks are expected to continue operating under their existing names through at least the rest of 2026 while network integration continues.
For subscribers, the practical message is: nothing changes today. Your SIM works. Your number stays. Your balance carries over. The brand name on your phone’s network indicator may eventually change — but that is months away.
How the Deal Happened
The merger follows PTCL’s acquisition of 100% shareholding in Telenor Pakistan and Orion Towers. PTCL had signed a share purchase agreement with Norway’s Telenor Group in December 2023 to acquire the two entities for $400 million. PTCL acquired 100% shareholding of Telenor Pakistan and Orion Towers on December 31, 2025. ProPakistani confirmed the IHC clearance came on June 30, 2026, with Justice Khadim Hussain Soomro issuing the order — PTCL disclosing the decision to the Pakistan Stock Exchange a day later.
Telenor’s exit forms part of the Norwegian group’s strategy to focus on markets where it has stronger long-term growth prospects. Pakistan had become an increasingly challenging market because of low average revenue per user, high spectrum costs, and limited opportunities for further consolidation. PTCL, majority owned by UAE-based Etisalat Group (e&), stepped in as the buyer. Profit Pakistan’s full legal approval timeline confirmed the Islamabad High Court as the final regulatory body to clear the deal.
What Customers Should Know Right Now
Ufone 5G has promised continuity of service for both Ufone 5G and Telenor Pakistan customers during the integration process, with access to superior connectivity and digital experience. The newly merged PTML is expected to benefit from a significantly larger mobile network, stronger spectrum holdings, and greater investment capacity for future technologies, including wider 5G deployment and enhanced digital services.
If you are a Telenor subscriber: your SIM, number, and balance are safe. Telenor’s network infrastructure is being absorbed into PTML, but your service continues without interruption.
If you are a Ufone subscriber: the same applies. Your service is unaffected. The combined spectrum portfolio should eventually mean better coverage and faster data speeds — though that improvement will take months to materialise as tower integration progresses.
If you hold SIMs from both networks: many Pakistanis carried one Ufone and one Telenor SIM to exploit different rate plans. With both networks now merged, maintaining two SIMs from the same company offers diminishing value. The combined subscriber base is roughly 72–74 million on paper, but a senior Ufone executive has said the real number could fall by close to 4 million as customers consolidate.
The PTCL Stock Reaction
PTCL stock hit Rs71 following the merger announcement — a significant climb driven by investor confidence in the combined entity’s commercial potential. Telecom analysts note that the merger drastically improves PTCL Group’s corporate profile, strategic position, and market valuation. By absorbing Telenor Pakistan’s extensive subscriber base, network infrastructure, and operational assets, the Group gains a much stronger spectrum portfolio. The company is well-positioned to unlock operational efficiencies and capture future digital growth opportunities. TechJuice confirmed the stock movement and analyst confidence in the merged entity’s valuation.
For individual investors watching the PSX, the telecom sector just became a three-player game: Jazz, Zong, and PTML. The competitive dynamics will shift as the merged entity finds its footing.
PTCL President and CEO Hatem Bamatraf described the merger as “a defining moment” for the company and for Pakistan’s telecom industry. Whether it is a defining moment for the 72 million customers who will experience the transition remains to be seen. Mergers create value on balance sheets. Whether they create value on your phone screen depends on execution.
