Tecom scores second major coup in a week

Hot off the heels on the announcement that it had won the tender for a 35% stake in Tunisie Telecom, Dubai based Tecom has revealed that it has been selected by the Maltese government as the preferred bidder for a 60% stake in Maltacom. According to the Maltese Cabinet, Tecom’s bid of EUR214 million was ‘significantly’ higher than the competing offer by Ararco of Saudi Arabia. Should negotiations with Tecom break down, however, the government will seek to reopen talks with the Saudi company.