ARY Communications expresses interest to buy controlling stake in World Call Telecom

KARACHI: ARY Communications Limited has made a Public Announcement of Intention to acquire 51% of the issued and paid up share capital and control in World Call Telecom Limited, according to a notice sent to the Pakistan Stock Exchange (PSX) on Thursday.

Shajar Capital Pakistan, working on behalf of ARY Communications, has sent the notice to PSX in which it says that ARY Communications and ARY Digital FZLLZ, have expressed interest in acquiring management control of World Call Telecom.

Major shareholders of World Call Telecom Limited include WorldCall Services with 27.79% holding, Ferret Consulting with 17.97% holding and ABM Management Consultants with 7.51% share in the company. 

According to the annual audited accounts for the year ended Dec 31, 2018, the total number of issued shares of World Call Telecom are 1,805,921,917 at the price of Rs10 per share.

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Earlier this month, according to a PSX notice, US company Elko Broadband Inc. also showed interest in buying issued and paid up shares of World Call Telecom. According to that notice, Elko Broadband showed interest in buying “more than 30% of the issued and paid up capital of World Call Telecom Limited together with management control.”

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