ISLAMABAD (Lord Media): The Islamabad High Court has approved the merger of Telenor Pakistan Private Limited with Pak Telecom Mobile Limited (Ufone). Justice Khadim Hussain Soomro sanctioned the petition, stating that all assets, properties, rights, and liabilities of Telenor Pakistan will be transferred to Pak Telecom Mobile Limited, and Telenor Pakistan Private Limited will be deemed dissolved.
The court directed the petitioner to submit a certified copy of the decision to the SECP registrar and instructed the registrar to take necessary legal steps for the implementation of the scheme.
Furthermore, the court instructed the petitioner to ensure compliance with all legal, regulatory, and financial requirements related to the implementation of the scheme.
The decision noted that a petition was filed to merge Telenor with Pak Telecom Mobile Limited, including all assets and liabilities. After reviewing the records and the scheme, the court expressed satisfaction with the proposed merger, stating that all relevant conditions of the Companies Act 2017 have been met and the scheme is lawful.
