The Minister for Industry, Investment and Information Technology, Austin Gatt has announced on Monday that the Cabinet has agreed to sell to Tecom [Investments] the Government's remaining 60% shareholding of Malta's incumbent telecoms operator Maltacom. The shares will be sold for 220Million Euros.
The privatisation of Maltacom will be concluded next Wednesday.
Tecom Investments is the same company that around three months ago has signed a preliminary agreement with the Maltese government to invest Lm110 million in the creation of SmartCity@Malta in Ricasoli, Kalkara. SmartCity@Malta will be an IT village hosting the top international IT companies and should create around 5,600 jobs.
See also:
Government chooses Tecom to negotiate Maltacom's privatisation
by MaltaMedia News - Apr 3, 2006
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