The Tecom representation on Maltacom’s – now rebranded Go – board of directors, Deepak Srinivas Padmanabhan, has told shareholders at an extraordinary general meeting that Tecom had no plan to buy further shares in the company.
Tecom has 60 per cent of Maltacom shares. Senior Tecom official Padmanabhan was asked by Maltacom chairman Sonny Portelli to answer a shareholder’s question on how many shares Tecom owned in the company and what their strategy was for the future with regards to increasing their stake. Padmanabhan said Tecom still has 60%, nothing more than originally purchased in Maltacom’s government shares, and that the Dubai company had no plans to increase their shareholding.