GO plc completes takeover of Bell Med Group Companies

This morning GO plc announced that it has entered into a share purchase agreement for the acquisition of the remaining 40% of the issued share capital of BM IT Limited, BM Support Services Limited and Bellnet Limited for a total consideration of €8 million. GO had initially bought 60% of the same companies back in April 2009 for €9.5 million. Therefore, in total, GO has paid a consideration of €17.5 million for the entire share capital of the Bell Med Group. Renewed demand helped the share price of the quad-play operator edge 1.5% higher to regain the €1.40 level on low volumes of 1,600 shares.

FIMBank plc also in positive territory as the equity rose 1.3% higher to the US$0.78 level on a small deal of 795 shares. Shareholders have until 22 July to reply to the Exchange Offer which FIM Holdings plc is making to shareholders of FIMBank plc pursuant to the Prospectus dated 6 April 2011.

The equities of the two large banks recovered from intra-day lows to close unchanged. HSBC Bank Malta plc closed at €2.92 after opening lower at the €2.90 level across seven trades totalling over 12,500 shares. Bank of Valletta plc recovered from an intra-day low of €2.68 to close at the €2.70 level on higher volumes of over 39,000 shares.

Overall, the MSE Share Index closed 0.1% higher at 3,336.478 points.