The Malta Independent 18 September 2019, Wednesday

Tunisie Telecom seals deal with GO; now owns 65.4% of GO share capital

Tuesday, 23 August 2016, 19:27 Last update: about 4 years ago

Tunisie Telecom has announced the successful conclusion of the Voluntary Public Offer made by its fully owned subsidiary TT ML Limited for shares in GO p.l.c., thus acquiring 65.4% of GO's total issued share capital.

"As per announcement dated 17 August 2016, all the conditions to the Offer, set out in the Offer Document dated June 14, 2016, have been satisfied, and completion of the necessary share transfers as well as settlement of the Cash Consideration have been duly effected. As a result of the completion of the offer, through TT ML Limited, Tunisie Telecom now holds 66,281,050 ordinary shares in GO.

The remainder of the shares in GO are in free float on the official list of the Malta Stock Exchange, "thereby allowing GO to retain a strong local shareholder base. Commenting on the closing of the transaction, Nizar Bouguila, Chairman and Chief Executive Officer of Tunisie Telecom, said: "With today's transaction close, GO will become a key player within the Tunisie Telecom group, enabling us to capture key growth opportunities in Malta and Cyprus, both high potential European markets, and to fulfil our strategic objectives. We are confident that Tunisie Telecom and GO can achieve more together than we can apart, unlocking numerous benefits and synergies for both companies that will enable us to deliver long-term value for all our stakeholders. I now look forward to working with GO's local management team to build on our combined strengths and start delivering on our vision to create a leading trans-Mediterranean telecoms platform spanning from North Africa to Malta, Cyprus and Greece."

The transaction was first announced on May 23, 2016, when GO declared it had selected Tunisie Telecom as the final preferred bidder for the Company's shares.


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