Zong Shows Interest to Purchase PTCL & Ufone: Etisalat Confirmed. China Mobile Pakistan Limited (CMPAK) tends to acquire Pakistani telecom giant Pakistan Telecommunication Company Limited (PTCL) and UFone Pakistan, registered trademark/Brand of Pak Telecom Mobile Limited (PTML).
As per details three sessions have been held so far to prepare framework for the whole process. Zong & Etisalat management has confirmed the primarily talks on the matter.
Zong Shows Interest to Purchase PTCL & Ufone: Etisalat Confirmed
Officials revealed that in this connection, first meeting was held at Dubai. Then representative from both sides met at china to go ahead through the process. Third meeting was held in a European country to finalize the agenda points according to which both of members will go through.
At the end of third meeting, it is declared that concerned are agreed to establish a common working committee to evaluate the assets of PTCL & Ufone. The committee will also assess the market value of Ufone and PTCL. To prepare the final estimate for purchasing of all the shares hold by Etisalat.
It is worth to mention here that at the time of privatization of PTCL, Etisalat purchased 26% shares in PTCL and entire the management as well. Etisalat is now independent to make any decision to run the company matters.
Now PTCL is the largest ICT services provider in Pakistan. Encompassing fixed line voice telephony, Wireline and Wireless broadband internet, Broadband and multimedia services, digital television and a wide array of corporate solutions for businesses and enterprises as well. It would not be out of place to mention that Etisalat still has to pay 800 million dollars to the Govt. of Pakistan. On the other hand, Etisalat management has started talks with Zong to sale out all its shares.
As well as Ufone’s profile is concerned, it is subsidiary group of PTCL under Etisalat. Having its presence in all the major cities of Pakistan along with a comprehensive coverage across all major towns, villages and tehsil headquarters of the country. The company employs more than 3,850 people.
It operates with a network of more than 375 franchises and 26 company-owned customer service centers along with a distribution network of 150,000 outlets nationwide. Company has focused on rapid growth of its 3G coverage and customers nowadays. According to PTA’s statistics released in February 2016, Ufone was stood at 4th with 20.59 million mobile customers in the country.
Zong is registered trademark of China Mobile Pakistan Limited (CMPAK), the 3rd largest company in Pakistan with 24.85 million customers as per statistics released by PTA in February 2016. It holds 3G users up to 5,430,155 and 481,730 LTE /4G users as per PTA. Zong has won the QOS survey competition conducted by PTA in start of 2016. And was declared as the fastest 3G/4G network of the country. Company has paid special attention to the expansion and quality of its 4G network and invested massive amount to continue provisioning of ICT quality services.
Source: Telecom Workers