The privatisation process of Maltacom plc has now entered in its final phase. In a press statement, the government announced that the Privatisation Unit within the Investment, Industry and Information Technology Ministry has received binding offers for the sale of shares held by the Maltese government in Maltacom. Thus these offers are being assessed in a final evaluation process before the Unit makes its recommendations to the government.
The privatisation process started in March 2004 following the Government's decision to transfer its 60 per cent shareholding in Maltacom to a strategic partner.
The declared intention of the government has been and continues to be the search for a strategic partner for Maltacom with the characteristics needed to lead this organisation into the future and to serve as a catalyst for the growth of Information and Communications Technologies in Malta.
In July 2004 the Privatisation Unit appointed Lehman Brothers to act as Financial Advisors and assist in the privatisation process. In June 2005, Lehman Brothers, on behalf of the Government, issued a first call for Non-Binding Offers which resulted in the selection of five Non-Binding Offers, all based on serious interest in completing the acquisition of Government's stake in Maltacom.
In December 2005, the process entered its final phase with the bidders to present their final offer. The time for receiving bids closed on 16 January 2006. An Evaluation and Adjudication Committee has been appointed and is chaired by Mr Emanuel Ellul, the Chairman of the Privatisation Unit.
See also:
Slovenian company won't buy Maltacom’s shares
By Ruth Davies - Jan 19, 2006, 09:07 CET
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