Maltese telco Go’s (MSE: GO) majority shareholder Emirates International Telecommunications (EIT) plans to dispose of its holding in the “short term”.
EIT, a subsidiary of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s global investment…
Maltese telco Go’s (MSE: GO) majority shareholder Emirates International Telecommunications (EIT) plans to dispose of its holding in the “short term”.
EIT, a subsidiary of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s global investment company Dubai Holding, informed Go’s board of directors of its exit plans at a recent EGM, the telco said in a short statement. No further details were provided, however Go said it would make further announcements as and when required by listing rules.
EIT not immediately available for comment.
EIT has a 60% stake in the quadruple play operator, which is Malta’s largest telco, while the remaining shares are traded on the Malta and London stock exchanges.
The announcement comes a day after Go shareholders endorsed the spinoff of subsidiary Malta Properties, which Architecture Property has valued at nearly €53m, into a separate, publicly-listed entity. Malta Properties CEO Nikhil Patil said the spinoff will enable Go to focus on its core communications business, while Malta Properties will concentrate on the property portfolio.
