MCI Shareholders Dismiss Mega Merger
MCI Shareholders Dismiss Mega Merger

MCI Shareholders Dismiss Mega Merger

MCI Shareholders Dismiss Mega Merger

Major shareholders in Iran’s oldest mobile phone firm, Mobile Telecommunications Company of Iran (MCI) seem adamant in their strong opposition to a proposed merger between the company and Telecommunications Company of Iran (TCI).
According to local technology website ICTNA, the Mobin Trust Consortium which has a 50% share in MCI has so far forestalled the merger and is not willing to give ground to the proponents.
On several occasions the consortium has simply dismissed TCI as unprofitable and highlighted its mountain of debt as its paramount reason for opposing the merger.
However, so far TCI officials have ignored the issue and prefer to trumpet the “upcoming merger”. At a session of the TCI’s annual general assembly last September, the company’s CEO said the two telecom giants “will be merged.”
Rasoul Saraian said that surveys show customers prefer telecom services in an integrated package from one company and the two companies are aiming to meet this demand through the merger.
“The merger will commence in five years and the services will be upgraded through joint use of fiber broadband and mobile technologies,” he said.
With the intention to cut operating costs, the provincial branches of TCI were merged last September.  
Kamal Bigdeli, financial manager of TCI, told reporters that by merging the provincial branches, recuing staff and reforming the company’s financial structure, TCI aims to save $10 million.
Talks about the deal between TCI and MCI follows a wider shift in the international telecoms markets of fixed-line operators buying or merging with wireless networks.
One high-profile merger of this sort was in the UK between British Telecom (BT) and EE (formally Orange and T-Mobile), which is estimated to have cost the national operator over $13 billion for establishing the largest mobile network.

Short URL : https://goo.gl/iTj1GN
  1. https://goo.gl/f1Lmgg
  • https://goo.gl/5PPKzr
  • https://goo.gl/Ye8f2h
  • https://goo.gl/qEbi1K
  • https://goo.gl/9GP7Ti

You can also read ...

Iran has specified the amount of prescription medicines...
Iran, Iraq Private Sector Officials Meet in Tehran
The chambers of commerce of Iran and Iraq surveyed ways of...
Finnish IT Company Renews Iran Contracts
A Finnish provider of telecom information technology solutions...
Tehran Market: Euro and USD Keep Climbing
Foreign exchange rates were again defiant and continued to...
Iran, UK Renew Trade Commitments
High-level trade representatives of Iran and the UK met on...
TEDPIX Crosses 170,000 Threshold
Major Iranian stock indexes vaulted to fresh records on...
Iran Bans Tomato Exports Until Further Notice
The Ministry of Industries, Mining and Trade has banned the...
Iran: SCI Reports Consumer Price Changes in Goods, Services Groups
The consumer price index of all 12 groups of goods and...

Add new comment

Read our comment policy before posting your viewpoints