|
|
|
|
|
The Privatisation Commission has invited Expression of Interest (EOI) for
the Privatisation of Telephone Industries of Pakistan (Private) Limited,
located at Haripur Hazara from the potential investors having experience in
telecom and manufacturing and corporate sectors.
Telephone Industries of Pakistan (Private) Limited (TIP) is engaged in
manufacturing and sale of Telephone Exchanges and allied equipment, Telephone
Sets, Drop Wire, DP Boxes, Cabinets and energy meters. As part of the
privatisation of the telecommunications sector in Pakistan the Privatisation
Commission ("PC"), on behalf of the Pakistan Telecommunications Company
Limited (PTCL), intends to privatise TIP. The mode of privatisation /
transaction structure for privatisation of TIP will be intimated later. The
interested have been asked to submit their Expressions of Interest ("EOI") to
participate in the privatisation of TIP by indicating their preference for
either, acquisition of PTCL shares in TIP along with management control on "as
a going concern" basis or acquisition of Digital Switching (EWSD) division and
General Products Division assets and land either separately or together,
latest by May 25, 2004. The PC reserves the right to request additional
information from any party.
The legal status of TIP is a Private Limited Company with Capital Structure
as: Paid up Capital Rs.909 (M) PTCL- 70.90 % and Siemens AG Germany 29.10 %.
TIP's principal businesses include Digital Switching (EWSD) Division:
Manufacturing planning, installation and commissioning services of Digital
Exchanges (capable of handling turnkey projects up to Half million digital
lines). General Product Division: Manufacturing of Telephone sets, Drop Wire,
Distribution Panels Boxes, Cross Connection Cabinets, Energy Meters and
Styropore manufacturing facilities.
As per terms of the Articles of Association of TIP, Siemens concurrence is
required for the sale of PTCL shares in TIP to a Competitor (Competitor being
any person or Company who deals either as principal, or agent in electrical
plant and apparatus of all types, including but without prejudice to the
generality of the foregoing, long distance Telecommunication Equipment and
Electrical Component and competes in any such fields with Siemens).