Tecom chosen as Maltacom preferred bidder

VALLETTA — Malta's government has chosen Dubai Telecoms Company Tecom as the preferred bidder for its 60 per cent stake in Maltese telecoms company Maltacom, it said yesterday.

By (Reuters)

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Published: Tue 4 Apr 2006, 10:43 AM

Last updated: Sat 4 Apr 2015, 1:55 PM

The Maltese investment ministry said the Dubai Company's bid, at $258 million, was significantly higher than other bids. As preferred bidder, Tecom will hold exclusive negotiations with Malta's government about buying the stake.

"Lehman Brothers believe Tecom's bid is consistent with the current market valuation for telecom incumbents" the statement said.

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