Pakistan Telecommunication Company Limited (PTCL), the leading landline and fixed Wireless telecommunication company in Pakistan and Ufone has finally decided to merge their management and operations; according to industry sources.
Ufone was the 4th mobile operator to enter Pakistan telecom market and for a long time it remained the second largest mobile network of Pakistan. However, it performance has been deteriorating for last couple of years. The Merger is expected to arrest the downward trend and improve the working of the two company by merging its fixed and wireless assets.
Exclusive: PTCL and Ufone Management & Operations to Merge Soon
PTCL was originally a state-owned corporation but back in 2006 it was privatized and 26% shares along with management rights were transferred to Etisalat Telecommunications. Whereas, Ufone is a cellular service provider and 100% owned subsidiary of PTCL that started its working in 2001. Currently, the performance of both organizations is less than satisfactory but this move may act as a good turnaround strategy and bring positive change in performance of both companies. Walid Irshaid-President of PTCL is reported to be joint head of the merged organisation and other changes to follow.