“Tunisie Telecom,” has confirmed its intention to maintain Malta’s GO’s current status as a publicly listed company with shares traded on the Maltese Stock Exchange as far as it complies with the Lusting Rules.
The company added in a press release Wednesday that it will not be actively seeking to reach the thresholds stipulated for a mandatory squeeze out nor the related implementation of delisting mechanics.
“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,” said Chairman and CEO of TT Nizar Bouguila.
GO p.l.c. had announced last May 23 the selection of TT as the final preferred bidder for the company’s shares.
Emirates International Telecommunications (Malta), which the registered holder of 60,786,292 shares in the Company (representing 60% of the issued share capital of the Company) has, subject to certain conditions, irrevocably undertaken to accept the Voluntary Bid with respect to its shareholding in the Company, TT recalls.
Tunisie Telecom has also confirmed in the same press release its intention to proceed with a voluntary offer to all shareholders of GO at a price of EUR 2.87/share as required and in compliance with Chapter 11 of the Listing Rules issued by the Malta Financial Services Authority.
The move will give the option to all shareholders to dispose of their shares in GO, if they wish to do so as per the terms and conditions that will be set out in an offer document to be issued by Tunisie Telecom within 21 days from the announcement, it added.
The company also noted that the announcement does not constitute a formal binding voluntary bid under Chapter 11 of the Listing Rules issued by the Malta Financial Services Authority.
GO is Malta’s first quadruple play operator, a truly converged and integrated communications and entertainment company with a wide range of services.
As Malta’s leading provider of telecommunications services, GO offers fixed and mobile telephony, broadband internet services, digital TV, in addition to business-related services including data networking solutions, IP services, managed services and co-location facilities. GO powers over 500,000 customer connections and services – thus making it the largest communications provider in Malta.