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Page 5 of 25 (5) If a substantial ownership interest in, or control of, a licensee is proposed to be changed, the licensee shall give the Authority notice of such fact in writing.
On the other hand, the remaining 8.76% shares of Warid are held by Bank Alfalah, a banking company incorporated in Pakistan.Spectrum Concentration, Wholesale Access to MVNOs, Interconnection, Joint Control / Cross-holding, Infrastructure Sharing, Non Compete Clause and related Party Shareholding.The CCP, after detailed assessment and considering the competition concerns, the countervailing factors and efficiencies allowed the proposed merger with certain obligations on the matters as stated above.1.1 Brief facts of the cas e are that the Pakistan Telecommunication Authority (the “Authority”) received noticces on 15th December, 2015 from the Pakistan Mobile Communications Limited (t he “PMCL”) and Warid Telecom (Pvt.) Ltd .(the “Warid”) respectively (collectively r eferred hereinafter as the “Parties”), for the change in substantial ownership interest i n PMCL and Warid and merger between the Parties.