MAXCOM Transfers Rs. 68 Million Assets to PTCL

Maskatiya Communications (Pvt) Limited (MAXCOM) has transferred its assets of Rs 68 million recently to Pakistan Telecommunication Company Limited (PTCL)  along with subscribers as part of agreed acquisition deal signed last year, official sources said.

MAXCOM had been acquired by PTCL as an 100% owned subsidiary last year with the management control however its asset had been gradually transferred to PTCL, which concluded recently.

"The net assets of MAXCOM have been transferred to PTCL at a book value amounting to Rs 68,382 thousand and the balance amount of the investment of Rs 6,144 thousand has been expensed," official sources said.