On 24 February, GO plc announced that it has reached an agreement with the Government of Malta for the transfer of eleven properties from the Government to the Company. These properties, which mainly consist of telephone exchanges, are already occupied by the Company and form part of the Company’s core operations. However GO reported that it never had full and proper legal title to them. On the other hand, GO will transfer back to the Government the full ownership and all rights pertaining to or on the land situated in Qawra valued at €13.8 million.
The swap is still subject to parliamentary approval.
The full list of properties involved in the swap may be found in the Company Announcement dated 24 February 2012.