Gibtelecom seeks new strategic partner

19 Jan 2015

The government of Gibraltar has received several ‘informal’ approaches from investors interested in buying a minor stake in Gibtelecom, the Gibraltar Chronicle reports. In December 2014 the government completed the acquisition of Telekom Slovenije’s 50% stake in Gibtelecom for EUR47.7 million (USD59.6 million), making the telco wholly owned once more. It has now been confirmed that the deal was a strategic move to ensure that Gibraltar maintained control over who bought into the company, and chief minister Fabian Picardo has now indicated that the search for a new partner is well under way. He commented: ‘The Government is already in receipt of a large number of informal approaches in respect of potential new partners. There’s a very great interest out there in joining with the government of Gibraltar to take Gibtelecom to the next stage in its development.’

Gibraltar, Gibtelecom