The Securities and Exchange Commission of Pakistan issued a clarification rejecting media reports that a merger between two large telecom companies is pending due to procedural delays by the SECP. The SECP stated that no such transaction has been reported to it for approval. It added that it only sanctions schemes of arrangement for small-sized companies and public sector companies to the extent of the Federal Government, which it said is not relevant to the transaction referenced, and that it provides timely feedback on petitions filed for sanction by the relevant courts. On this basis, it said reports of SECP delay are incorrect and that no related feedback is pending from the SECP.
Securites & Exchange Commission of Pakistan 2025-01-31
Securities and Exchange Commission of Pakistan rejects reports it is delaying a telecom merger and says no transaction has been filed for its approval
The Securities and Exchange Commission of Pakistan (SECP) clarified that reports of a merger between two large telecom companies being delayed due to SECP procedures are incorrect. The SECP stated that no such transaction has been reported for approval and emphasized its role in sanctioning schemes only for small-sized and public sector companies. It affirmed that it provides timely feedback on petitions filed for sanction by relevant courts.