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Possible sale of Maltacom
stake in Vodafone on MSE
by a staff reporter
Maltacom is considering selling its 20 per cent stake in Vodafone
Malta Ltd in an Initial Public Offering (IPO) on the Malta Stock
Exchange.
Maltacom chairman Maurice Zarb Adami said yesterday the company
was having talks with Vodafone Malta to find the best way to
sell the 20 per cent stake.
According to the national plan on telecommunications, Maltacom
has six months from when it started to operate its mobile network
to divest itself of the 20 per cent stake it has in Vodafone.
“Go Mobile started operations on 1 December so the six-month
time frame expires on 1 June.”
Mr Zarb Adami said discussions between Maltacom and Vodafone
had been going on and the idea was to issue the shares on the
stock exchange.
“But we might be asking for an extension both in the interest
of Maltacom and Vodafone. The IPO will have to take place in
the best possible time to give value to Vodafone and Maltacom,”
he said.
Mr Zarb Adami however said that it was not clear what would
happen if Maltacom decided not to divest its shares by 1 June.
“What happens is not at all clear. Nothing might happen,”
he said.
Originally, Maltacom had an option to take a majority shareholding
in Vodafone Malta if it was not granted a licence to operate
a mobile network.
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