Maltacom plc and the General Workers Union announced yesterday that they have agreed that restructuring is necessary in the interests of all stakeholders, especially for the commercial activities of the company.

This will result in a completely new set-up and job functions, the two sides said in a joint statement. The restructuring will allow Maltacom to maintain its dominant position in the telecommunications market while helping it to transform itself into a quadruple-play organisation providing fixed, mobile, broadband and television services.

During the meeting, a number of proposals were discussed and a framework agreement was reached on how the restructuring process will be implemented, within the context of the current collective agreements between the company and the union.

Maltacom and the GWU also agreed to refrain from issuing further communications so that their interests are not prejudiced.