GlobalTech extends merger deadline to March 31 for WTL integration

December 20, 2023 (MLN): GlobalTech Corp, the parent company overseeing Worldcall Telecom Limited (PSX: WTL), has extended its Merger and Reorganization agreement deadline from December 31, 2023, to March 31, 2024.

To recall, in November, WTL informed that its US entity achieved a major milestone in NASDAQ listing through a US Entity, GlobalTech Corporation, which has been allocated the symbol `GLTK' by the relevant regulator and would subsequently commence trade under this symbol.

"This milestone successfully consolidates actions taken for capital raising to fuel the Technology Transformation of WTL with Innovative IT services and Affordable Broadband at the core". the notice reads.

To note, GlobalTech Corporation through its subsidiary WTL is the largest cable television operator in Pakistan with over 800,000 cable television customers.

Additionally, it has over 50,000 broadband customers.

Their investment strategy includes converting its existing cable customers to Fiber-to-the-Home, which can result in lower expenses and higher revenue per customer.

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