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ISLAMABAD, Jan 31 (APP):A digital media outlet has reported that the merger of two large telecom companies in Pakistan is pending because of procedural delays by SECP. The news item is factually incorrect.
Till date, no such transaction has been reported to SECP for approval. It should be noted that SECP only sanctions schemes of arrangements in respect of small sized companies and public sector companies to the extent of the Federal Government, which is not relevant in the mentioned transaction, said a press release issued here on Friday.
It also provides feedback on petitions filed for sanction by the relevant courts, in a timely manner.
Accordingly, the reports of delay in approving the transaction by SECP is incorrect, and no such feedback is pending at our end.