The State’s three telecommunication companies Telikom, Bmobile and Dataco will be amalgamated under a new name – Kumul Telikom.
The announcement was made this afternoon by Minister for National Planning and Acting Minister for Public Enterprise & State Investment, Charles Abel.
Minister Abel says the NEC decision was based on the simple logic that is the amalgamation allows cost effective sharing of resources and, market intelligence.
The Kumul Telikom amalgamation was approved by the National Executive Council yesterday, February 21st.
The amalgamation means that Telikom PNG remains a 100% subsidiary of Kumul Consolidated Holdings. It is renamed Kumul Telikom Holdings Limited. Bmobile and DataCo will become subsidiaries of Kumul Telikom- effectively merging the companies.
Mr. Abel says the decision to amalgamate the 3 companies ensures that Kumul Telikom keeps up with the changing times and operates as an integrated retail and wholesale operator.
“One board, one vision, one mission. The amalgamation allows the cost-effective sharing of resources and market intelligence. It will allow us to realise cost savings and harness the synergies between the three telcos.” Abel says.
The three telcos will share basic infrastructure such as towers throughout the country. Minister Abel said the amalgamation will improve, expand and increase access to an affordable ICT network.
The new board of Kumul Telikom includes former board members of Telikom, Bmobile and DataCo, headed by Chairman Mahesh Patel.
The position of Managing Director is currently vacant but a transition management team led by current CEO of Telikom PNG, Michael Donnelly, will oversee and ensure the successful amalgamation of the three entities.