Melita Cable and 3G Telecommunications Join Forces
September 26, 2007
Melita Cable, Malta’s provider in television, broadband and
telephony services, recently acquired by GMT Communications Partners,
announced that it has signed a letter of intent for a proposed transaction
with 3G Telecommunications. 3G Telecommunications, a subsidiary
of investment firm M/C Venture Partners, was recently awarded Malta’s
third UMTS license by the Malta Communications Authority. The transaction
will enable Melita Cable to roll out Malta’s third wireless
communications network and offer a full suite of voice and data
communications services.
As a part of the transaction, M/C Venture Partners will acquire
a minority interest in Melita Cable and fund the company’s
expansion alongside GMT Communications Partners and the Gasan Group.
The Malta Communications Authority has issued its preliminary approval
for the transaction; completion remains subject to final clearance
by the MCA and the Office of Fair Competition.
Commenting on the new agreement, Massimo Prelz of GMT Communications
Partners said, "The addition of 3G Telecommunications will
enable Melita Cable to become one of the cable industry’s
first fully integrated quadruple play operators. We view this as
an important opportunity for Melita Cable to build on a successful
track record of investment in Malta’s communications market.”
“We were grateful to the MCA for its fair consideration of
our application for Malta’s third UMTS license,” said
James F. Wade, Managing General Partner, M/C Venture Partners. “We
believe that Melita Cable’s operating platform offers the
most efficient means of creating further choice for consumers of
voice, video and data services. At the same time, we are excited
to team up with GMT and the Gasan Group in order to back a highly
successful cable business and management team.”
“From an investment standpoint, this is a mutually beneficial
opportunity for our consortium and local economic development efforts,”
said Joseph Gasan, Chairman of Melita Cable. “Our investment
in an advanced mobile communications network is another step forward
for Malta’s communications market which represents an important
building block for our economy.”
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