Interview with Jon Omund Revhaug, Executive Vice President and Head of Telenor Asia: ‘Telecom restructuring is critical for Pakistan's digital progress'
Jon Omund Revhaug, Executive Vice President and Head of Telenor Asia, leads Telenor's operations across Bangladesh, Malaysia, Thailand, and Pakistan from his base in Singapore. With over 24 years at Telenor, he brings deep operational and leadership experience to one of Asia's most dynamic telecom portfolios.
Previously, he served as EVP and Head of Telenor Nordics, as well as COO for regional IT and shared services, and played a key role in the merger of True and DTAC in Thailand. He also led Telenor Myanmar through the COVID-19 pandemic and a military coup and helped establish the Group's global sourcing arm, TPC.
Revhaug currently chairs Grameenphone in Bangladesh and sits on the boards of CelcomDigi in Malaysia and True Corporation in Thailand. A biologist and economist by training, he holds a master's in management from BI Norwegian Business School.
At a time of fast digital transformation, Revhaug is driving Telenor's mission to connect societies and build resilient, future-ready networks across Asia.
Following are the edited excerpts of a recent conversation BR Research had with him:
BR Research: Telenor's Exit from Pakistan: Telenor announced the sale more than a year ago. Why, after 20 years in Pakistan, did the company decide to divest its telecom assets to PTCL?
Jon Omund Revhaug: Following a thorough review in 2021, Telenor decided to exit the Pakistani telecom sector, aligning with the company's strategic direction of investing in markets where it can be a number one player. We did not see that for Pakistan. Following this decision, Telenor signed an agreement with Pakistan Telecommunication Company Limited ('PTCL') in December 2023 for the sale of its Pakistan operations.
PTCL was selected as the preferred buyer after a competitive process that considered the fact that PTCL is majority-owned by the Government of Pakistan and that e&, PTCL's parent company, is majority-owned by the Government of the United Arab Emirates (UAE).
We believe Pakistan's telecoms sector will benefit from consolidation. Selling Telenor Pakistan to PTCL will create new growth opportunities, benefiting consumers in Pakistan.
BRR: What has been the response from Telenor's customers and employees in Pakistan regarding this transition?
JOR: It has been business as usual for Telenor Pakistan until the sale is concluded. Our customers and employees continue to trust the Telenor brand and its services.
BRR:The Competition Commission of Pakistan (CCP) has yet to approve the Telenor-PTCL merger. How is this uncertainty affecting Telenor's strategic planning and operations in the country, and how are you mitigating associated risks?
JOR: While the transaction closing timelines remain uncertain, Telenor's strategy to exit Pakistan remains unchanged currently. After a thorough strategic review, Telenor decided to exit the Pakistan telecom sector in line with our company's strategic direction.
BRR: PTCL's leadership has warned that further delays could jeopardize the agreement. How is Telenor preparing for such a scenario, and what contingencies are in place?
JOR: We continue to engage with the relevant authorities to obtain the necessary approvals. Considering the substantial merits of the case for all stakeholders, we still anticipate receiving the required approvals in the coming months. We hold the decision to exit and do not have any other plans currently.
BRR: The 5G spectrum auction has now been postponed due to the merger deadlock. What are the potential repercussions for Telenor's technology roadmap and Pakistan's digital advancement?
JOR: Running a successful 5G auction offers a good example of how Pakistan's telecoms sector would benefit from consolidation. A swift resolution of the ongoing sale process would create a stronger second-position player in the market, one who is better positioned to invest in critical digital infrastructure, resilient data networks, and future technologies that can drive innovation at an accelerated pace.
Telecom is a capital-intensive industry, and the current industry structure does not support meaningful investment in the sector. Market leader Jazz has a revenue market share of 44 percent, compared to Telenor Pakistan's 20 percent and PTCL's estimated 12 percent. Telenor analysis shows that companies with a market share below 20% cannot sustain over time.
BRR: More broadly, how do you see this delay affecting Pakistan's digital infrastructure development and telecom competitiveness?
JOR: According to the Pakistan Economic Survey FY 2025, telecom investments have dropped by more than 60 percent in less than four years, highlighting that a restructuring of the sector is needed to ensure future investments.
A lack of investment could also make Pakistan more vulnerable to cyber threats. In 2024, Pakistan experienced an 18 percent surge in phishing attempts compared to 2023. The merger of PTCL with Telenor Pakistan will create a stronger second player in the market, one that is better positioned to invest in critical digital infrastructure in Pakistan, thereby building safer and more resilient data networks necessary for further industrial development.
BRR: You have overseen major mergers in Malaysia and Thailand. How have those consolidations benefitted customers in those markets?
JOR: By combining the strengths of the two entities, the merged companies in Malaysia and Thailand have been able to expand and improve network coverage, provide better customer service platforms, and offer customers more choices.
Customers experience significant improvements in network quality and overall experience following mergers. For example, in Thailand, 4G coverage from Dtac and True was 96.9 percent and 99 percent, respectively, while 5G coverage was 46.8 percent and 85.6 percent, respectively, before the merger. Following the merger, the combined networks now offer 99.2 percent 4G coverage and 90 percent 5G coverage.
As companies with scale, they are also better positioned financially to invest in advanced technologies, such as AI and cloud computing. This drives innovation and creates more choices for customers. For example, CelcomDigi's innovation centre in Kuala Lumpur, launched last year, is quickly becoming the country's leading innovation hub, showcasing AI, 5G, IoT, and robotics use cases across eight verticals and industries.
BRR: How do you view Telenor Pakistan in comparison with other assets in your Asia portfolio?
JOR: Telenor's strategy in Asia is to build number-one positions in the markets we operate in, with sufficient scale for significant infrastructure investments.
While Telenor's decision to exit Pakistan's telecoms market remains in effect, we continue to be impressed with Telenor Pakistan's resilience and what they have achieved in otherwise challenging circumstances. This is an extremely resilient team; both I and our Global CEO highly appreciate their efforts amidst the ongoing sale process.
JOR:What is your overall view on the growth prospects of the telecom sector in Pakistan over the next few years?
JOR: While there is tremendous untapped potential, we want to emphasize again that the financial sustainability of the telecom industry to continue to invest and bring more online continues to be under significant pressure. The average revenue per user (ARPU) in Pakistan's mobile sector is one of the lowest globally, at below US$1, compared to the global average of US$8, which is insufficient to cover dollar-denominated costs, such as spectrum fees and equipment imports. We believe the restructuring of the sector would be beneficial.
BRR: Telenor is exiting telecom but retaining a stake in Easypaisa. Can you explain the rationale behind this decision and what potential you see in Pakistan's fintech ecosystem?
JOR: The strategic decision made was to exit the telecom sector in Pakistan for the reasons explained above. Easypaisa, a joint venture between Telenor and Ant Financial, is not part of the Telenor Pakistan transaction.
BRR: Do you see Easypaisa evolving beyond a wallet into a full-fledged digital financial services platform?
JOR: Earlier this year, we were proud that Easypaisa was the first digital bank to receive approval for commercial operations in Pakistan. Operating now as an Easypaisa digital bank, this marks the start of a new chapter in Pakistan's banking sector, bringing digital banking services to millions across the country. With innovative products and services on the horizon, Easypaisa Digital Bank is poised to lead from the front, driving financial empowerment for millions across Pakistan.
Easypaisa is also offering a range of savings, investment, and insurance products in addition to digital and traditional lending as part of its ambitions to become a leading financial ecosystem in Pakistan.
Copyright Business Recorder, 2025
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