WorldCall Telecom slams PBA for issuing vague information regarding ARY’s acquisition of WTL

January 24, 2020 (MLN): WorldCall Telecom Limited (WTL) has stated that the notice uploaded by the Pakistan Stock Exchange, pertaining to the public announcement made by ARY Group to acquire 51% shares in WTL, contains somehow vague letter from Pakistan Broadcasters Association (PBA) and in no possible way may be determined to demonstrate price sensitive information.

‘It is imperative to emphasize here the media footprint of Worldcall being largest cable operator of Pakistan and recognized as such by its competitors. Investments in WTL is a welcome initiative in the Telecom Sector and would bring much needed relief to cash stricken industry’, the notice by the company said.

‘Transmission of one sided information as in aforementioned instance is of detriment to the Company, repercussions of which might not be mitigated completely. The same can be manipulated by competitors alike to gain undue market advantage. As endorsed in telephonic correspondence as well, it is once again requested to take us in loop and liaise beforehand on any such correspondence you deem to be made available to public at large. This could practically denominate in amicable resolve of such matters, save us valuable time and stringent communication which can only confuse general public’, it added.

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