PTCL acquires Pakistan’s major telecom firm

Pakistan Telecommunication Company Limited (PTCL) has signed a Share Purchase Agreement (SPA) with the shareholders of Telenor Pakistan to buy 100% of TPL’s shares, based on an enterprise value of Rs.108 billion. According to PTCL’s filing on the Pakistan Stock Exchange on Thursday, the deal will be done on a cash-free, debt-free basis and PTCL will fund the acquisition through external debt that it will raise.