ISLAMABAD (special crosspondent) – The Islamabad High Court has officially approved the merger of Telenor Pakistan (Private) Limited into Pakistan Telecommunication Mobile Limited, known as Ufone. This landmark judicial decision clears the legal path for the comprehensive transfer of all assets, properties, rights, liabilities, and obligations from Telenor Pakistan to the Ufone entity.

Legal Approval and Regulatory Compliance

In the detailed judgment, Justice Khadim Hussain Soomro affirmed that the proposed merger scheme fully adheres to the requirements stipulated under the Companies Act, 2017. The court concluded that the transaction is lawful, equitable, and serves the public interest, noting that the Prime Minister Shehbaz Sharif administration has been keen on stabilizing the national telecommunications landscape through such corporate consolidations.

Implementation and Asset Transfer

The court has directed the petitioner to submit a certified copy of the order to the Registrar of the Securities and Exchange Commission of Pakistan (SECP). The Registrar is further tasked with executing all necessary legal protocols to finalize the merger in accordance with the law. While the court underscored its role as a supervisory body in these corporate restructurings, it expressed full satisfaction after reviewing the record and the merger scheme, confirming that all statutory obligations have been met.

Corporate Restructuring and Dissolution

Under the finalized court order, all operational assets, properties, rights, obligations, and liabilities of Telenor Pakistan will effectively transfer to Pakistan Telecommunication Mobile Limited (Ufone). Consequently, Telenor Pakistan (Private) Limited shall be deemed dissolved without the need for further legal proceedings. This development represents a significant shift in the competitive environment of the local telecom sector, comparable to major national initiatives such as the OIC Adopts Islamabad Declaration to Advance Women’s Empowerment Globally or the strategic oversight seen in the Pakistan Assumes OIC Ministerial Conference Chairmanship on Women for Two Years.