Tunisie Telecom has concluded a majority takeover of GO after acquiring 65.4 per cent of the Maltese firm's share capital in a voluntary bid to its shareholders. 

Some 66,281,050 shares have now been transferred to TT ML Limited, a wholly-owned subsidiary of Tunisie Telecom that is registered in Malta. The rest of GO's shares will continue to float on the Malta Stock Exchange. 

In a statement, the Tunisian telecoms group said it was delighted that all the terms of its voluntary public offer had been met. Keeping GO on the MSE would allow it to retain a strong local shareholder base, the group said. 

Tunisie Telecom chairman and CEO Nizar Bougila said the acquisition would bring the group closer to its vision of creating a "leading trans-Mediterranean telecoms platform spanning from North Africa to Malta, Cyprus and Greece."

GO owns a 51 per cent stake in Cypriot broadband operator Cablenet. It picked Tunisie Telecom over Bahrain Telecoms Corporation as its preferred bidder in May. 

“With today’s transaction close, GO will become a key player within the Tunisie Telecom group,  enabling us to capture key growth opportunities in Malta and Cyprus, both high potential European markets, and to fulfill our strategic objectives," Mr Bougila said. 

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