Talkpool suspends sale of Pakistani telecom business to ZT Group

Talkpool AG signed Sales Purchase Agreements with Saudi-based ZT Group for the sales on Talkpool’s shareholding in Pakistan and Saudi Arabia and entering a partnership for the Middle East region. The transaction was approved by the Pakistani competition authorities in June 2022, but ZT Group has so far not paid anything to Talkpool AG, thereby breaching the agreed conditions. No shares have been transferred and Talkpool is hence still majority owner of the shares in Pakistan.

Talkpool’s business in Pakistan has been crisis resilient as it continues to operate with high service quality, strengthening its position as Pakistan’s market leader in telecom network services while generating similar or higher profit margins compared to previous years.

The parties agreed on British law for resolving disputes. British lawyers believe that chances stand good that the Sales Purchase Agreement can be enforced. Talkpool has so far not initiated the legal process as this would be costly and take time – and there are still hopes for a settlement.

CT Bureau