Tunisie Telecom this evening confirmed that it intends to maintain Go’s current status as a publicly listed company with shares traded on the Malta Stock Exchange as far as it remains in compliance with the Listing Rules.

As such, the company said in a statement, it will not be actively seeking to reach the thresholds stipulated for a mandatory squeeze out nor the related implementation of de-listing mechanics. Further details on the timetable, terms and conditions of the offer will be made in due course, the company said

According to Tunisie Telecom CEO Nizar Bouguila, “We are very excited about the opportunity this presents to create a strong trans-Mediterranean telecoms partnership which will support Go's growth opportunities in its domestic market, while being a centre of excellence for the wider group. 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.”

The company also confirmed its intention to proceed with a voluntary offer to all shareholders of Go at a price of €2.87 per share as required and in compliance with Chapter 11 of the Listing Rules issued by the Malta Financial Services Authority.

This, the company said, 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 24 May announcement.

As per that announcement, Emirates International Telecommunications (Malta) Limited, which is 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.