Maltacom and the General Workers' Union said yesterday they agreed that the company's restructuring was necessary in the interests of all stakeholders.

They issued a joint statement following a meeting in which they discussed the restructuring process.

"This restructuring is particularly necessary for the commercial activities of the company and results in a completely new set-up and job-functions. "Maltacom and the GWU agreed that such restructuring will see Maltacom retain its position as Malta's leading telecommunications provider, and be better equipped to transform itself into a quadruple-play organisation providing fixed, mobile, broadband and television services," they said.

At 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.

The company and the GWU agreed that it is in their mutual interest to refrain from issuing any other communications "as this may be of prejudice to the interest of the parties".

Both the GWU and the Union Haddiema Maghqudin last week expressed concern at the way the company's restructuring process was taking place, and hinted at industrial action.