GMT will acquire a majority shareholding and the Gasan Group will retain a minority interest.

GMT is backing the existing management team led by Philip Micallef to build on an already strong local position particularly through the offer of voice telephony over the internet (VOIP) and bundled services. This acquisition confirmed GMT’s position as the most active private equity investor in Europe in the communications sector with eight cable TV/telecom investments and follows acquisitions including Casema in the Netherland), CMI in Ireland, PEPcom in Germany, Invitel in Hungary, Karneval  in the Czech Republic, Internet Network Services in the United Kingdom), and Mobifon in Romania.  

Joseph Gasan, Chairman of Melita Cable plc said “This multi-million foreign direct investment into Malta proves that, despite its size, Malta is an attractive telecommunications market for international players. Also, one must add that GMT’s main reasons for making this major investment in Malta have been Melita’s strong competitive position, its compelling service offering and strong brand, its low cost base, and its solid financial track record. This latest development in Melita’s shareholding is another milestone in the company’s history, which I believe will be beneficial to the company, its workforce and its extensive customer base.”  

Jeff Montgomery of GMT noted that “Melita is a success story and has led the way in developing and innovating Communication services in its region.  I am absolutely delighted to be teaming up with such a highly capable management team led by Philip Micallef to drive the business through its next stage of growth.”