NEWS

Malta telecoms company selects Tunisie Telecom for majority stake

Tuesday, May 24, 2016

Maltese communications company GO plc has selected La Societe Nationale des Telecommunications (Tunisie Telecom) as the final preferred bidder for the sale of its entire issued share capital.

GO, of which Tecom Investments of Dubai has a 60 percent stake, controls the lion's share of the Maltese telecoms market including land-lines, mobile phones, data communications and digital television transmissions.

It made a pre-tax profit of 34.2 million euros in its last financial year. The company is listed on the Malta Stock Exchange.

The company said Tunisie Telecom will submit a voluntary bid in terms of the Listing Rules for the entire issued share capital of the company at 2.87 euro per share.

The issued share capital of the company is 58,997,453.51 euros divided into 101,310,488 ordinary shares.

Times of Malta reported earlier this month that two final bids were submitted to GO by Batelco - Bahrain Telecoms Corporation - and by Tunisie Telecom.

 

Source : reuters.com

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