The Competition Commission of Pakistan (CCP) has asked two leading telecom companies, which have decided to merge, to submit pre-merger application under Section 11 of the Competition Act and seek approval from the Commission. In this regard, the CCP has issued letters to Chief Executives of the two telecom companies here on Friday on the issue of pre-merger notification under Competition Act, 2010.
According to the CCP communication received by the companies, refer to a notice on the website of company and news items in media, informing that Mobilink GSM Private Limited (Mobilink) and Warid Telecom have decided to merge. Under Section 11(2) of the Competition Act, 2010, the merge parties are required to seek prior clearance of the said merger.
CCP has advised that it is mandatory requirement for all undertakings to the a pre-merger application with the Commission under Section 11(2) of the Competition Act, 2010 in respect of any intended merger/ acquisition of shares. The companies are therefore, advised to submit pre-merger application under Section 11 of the Act and seek approval from the Commission.