Tunisie Telecom Offers to Buy Out Minority Shareholders in Maltese Network
Published on: 2nd Jun 2016
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Tunisie Telecom is launching an offer to buy the 40% of Malta based Go following an agreement to buy out the main 60% shareholder.
Emirates International Telecommunications (Malta), which owns 60% of the Maltese telco has, subject to certain conditions, irrevocably undertaken to accept the Voluntary Bid with respect to its shareholding in the company.
Commenting on the Voluntary Bid, Nizar Bouguila, Chairman and Chief Executive Officer of Tunisie Telecom, said: "We are delighted to have been selected as the final preferred bidder for the acquisition of the entire share capital of GO. We are committed to becoming a long-term partner for GO, supporting continued investments in the Maltese ICT sector as well as in Cyprus through Cablenet."
The company also confirmed in a statement that if there are a minority of shareholders left after its offer, it wont use its rights to force a sale, and will keep the remaining shares listed on the Maltese Stock Exchange.
"We believe that it is important to maintain GO as a distinct Maltese listed company with a strong local shareholder base in order to continue to benefit from the strong public and customer support that is vital for GO to continue to thrive and grow," Bouguila added.