GO plc - Clarification on intention to sell shareholding

On 26 July, Emirates International Telecommunications Malta Limited (EIT) issued a press release in connection with its declared intention to dispose of its 60% stake in GO plc in the ‘short-term’.

EIT explained that this decision follows the successful sale of its other telecoms investment in Interoute, a European Network provider, earlier in 2015. Furthermore, EIT clarified that the process to dispose of GO’s shares has just been initiated and therefore it is still evaluating its options. Additionally, EIT has not yet approached or identified any buyer for its stake in GO.

EIT also noted that it will continue to hold its shareholding in Malta Properties Limited after the spin-off from the local telecoms Group as the property shareholding is aligned with Dubai Holding’s (the parent company of EIT) of focusing on real estate investments.