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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.
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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