Vodafone Increases Maltese Investment

Malta's Maltacom has sold all its 20% shareholding in Vodafone Malta to Vodafone International Holdings and Vodafone Nominees Limited (wholly owned subsidiaries of Vodafone Group Plc) for a cash consideration of US$33.8 million. Prior to exit Maltacom received a dividend from Vodafone Malta. Vodafone Group now owns 100% of Vodafone Malta.

Maltacom has been assisted by Bank of Valletta and Rotschild as its Financial Advisors.

Concerns have been raised however as Maltacom's share price soared by up to 20% in the week prior to the announcement without any obvious cause. Maltacom is also the owner of Malta's other GSM network, Go Mobile."

Posted to the site on 4th August 2003