Tunisie Telecom will not de-list GO shares

Tunisie Telecom, the firm selected as the preferred bidder to take a controlling stake in Maltese telco GO, has said it intends to maintain GO’s listing on the Malta stock exchange. The Tunisian operator has made an offer of EUR2.87 (USD3.25) per share for GO’s entire issued share capital; GO is 60% owned by Emirates International Telecommunications (EIT), which is itself part of the Dubai Holdings Group, while the remaining 40% is distributed. According to a report from the Times of Malta, Tunisie Telecom has said it plans to proceed with its voluntary offer to all GO shareholders, but it is not actively seeking to reach the threshold required for a mandatory squeeze-out of minority investors. Tunisie Telecom chairman and CEO Nizar Bouguila is quoted as saying that he believes it is important for GO to remain ‘a distinct Maltese listed company with a strong local shareholder base’. GO offers a full range of fixed, mobile and TV services across Malta.