GO plc - Cablenet Transaction Approved

Thursday, September 4th, 2014

On 4 September, GO plc announced that it received regulatory approval from the Competition Authority in Cyprus to proceed with the implementation of the Share Purchase Agreement with Cablenet Communications Systems Limited (Cablenet). This transaction was first revealed in a Company Announcement by GO on 28 March. The agreement comprises the acquisition of a 25% stake in the Cypriot telecommunications company as well as for GO to advance a €12 million convertible loan to Cablenet. Upon conversion of the loan, GO will own 45% of the issued share capital of Cablenet. Furthermore, the agreement also stipulates that in the future GO has the option to acquire majority control in Cablenet.

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