Wednesday 24 October 2018

Proposed Melita takeover of Vodafone Malta business abandoned

GO p.l.c. (GO) notes that the parties to the proposed Melita takeover of Vodafone’s Malta business have abandoned the transaction, following a detailed Phase II investigation carried out by the Office for Competition (OFC) within the Malta Competition and Consumer Affairs Authority (MCCAA).

The OFC initiated this investigation in view of serious concerns on significant impediment to effective competition in the market. The takeover process, the largest market concentration in Malta’s history, had been closely followed both in Malta and beyond in view of a number of objections from the industry, consumer groups and other parties.

A GO spokesperson stated ‘’Though GO does not shy away from competition, and indeed welcomes it, the proposed takeover would potentially have resulted in a scenario that would have been bad for consumers, bad for a sustainable and viable communications industry and ultimately not ideal for Malta as a whole.

We believe that the relevant authorities have acted professionally, prudently and with due consideration to the realities of the Maltese market throughout the complex investigation process.

In any case, GO will continue to persevere with its own long term strategies, and reaffirms its commitment to offer cutting-edge and future-proof telecommunications solutions for personal and business customers.’’

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