Malta telecoms company selects Tunisie Telecom for majority stake
23/05/2016 21:59
VALLETTA, May 23 (Reuters) - 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.
(Reporting by Christopher Scicluna; Editing by Tom Heneghan)
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Keywords: MALTA TELECOMS/