Tunisie Telecom to buy Malta’s Go for €290m

24 May 2016 | Alan Burkitt-Gray

Tunisie Telecom is set to buy 100% of Maltese operator Go for €290 million after the company was selected as the preferred bidder.

According to The Times of Malta, Tunisie Telecom will be submitting a voluntary bid for all the shares in Go at a price of €2.87 a share. Dubai Holding owns 60% of the shares in Go through Tecom Investments.

Tecom owns 35% of the Tunisian operator’s holding company, Société Nationale des Télécommunications, which is state-controlled. But the takeover will be Tunisie Telecom’s first expansion outside its home country.

Tunisie Telecom beat Bahrain’s Batelco in the race to become preferred bidder. Go shortlisted both companies earlier in May to buy up the company. Batelco told the Bahrain bourse on Tuesday that it is no longer in talks about acquiring Go.

Go, formerly Maltacom, provides fixed, mobile, digital TV and internet services in Malta, which is a member of the European Union and has a population of 425,000. Go has two competitors, Melita Mobile and Vodafone Malta.