MLP demands explanation on Qawra prime site

The government has still not explained how a prime site held by Go plc has not been returned to the State in line with an understanding reached when Go was sold to Tecom, the MLP said today.

It noted that at the Go annual general meeting last Friday, company chairman Sonny Portelli said that there was no issue over this site with the government because this site was company property and would be used when appropriate.

The party recalled that by November 2006, the government was supposed to have moved a resolution in the House transferring to Go the title over land occupied by a number of telephone exchanges while the company was to transfer the Qawra site to the government. It asked why that had not happened.

The Qawra site, the MLP said, was worth between €23 million and €35 million.

Comments

Joseph Ellis (on 15/4/08)

This land was on Maltacom's books when it was partially privatized in 1997. The then Labour government could have transferred it back to government ownership prior to privatization just like it did with Pender Place. But it did not. Nor did the Nationalist government transfer the land back to its books during the long time it was majority shareholder after 1998 and before it transferred its shareholding to the people from Dubai. It beats me how government could have entered into an agreement with the new shareholders so that they transfer the land back to government. Why did it not do so in the first place prior to the share transfer ?

Both political parties are showing scant respect to minority shareholder rights which are protected by the law. If Go transfers the land back to government at anything less than its market value, it would face action from its minority shareholders irrespective of any agreement between past and present majority shareholders.

It is high time that this nonsense is put to a stop and one recognizes that this land cannot be transferred back to government at anything less than its market value.

Mike Magri (on 15/4/08)

Well Dear Reader... The Wonder of Wonders on this huge prime site is simply this....

GO plc insisted ALL TIME LONG, that this land is officially their`s......!!!!!!!

On the other hand, the Hon. Minister Austin Gatt, on behalf of the Government, is, and has always said, that this famous site, still belongs to Malta and its people....!!!!!!!!

The obvious question to this myterious situation is this....

WHO HAS BEEN PULLING OUR LEGS, ALL THIS TIME...??????????????

The Hon. Autin Gatt, or Mr. Sonny Portelli....,???!!!???!!

WILL THE TRUTH FINALLY COME OUT (PLEASE) GENTLEMEN.....!!!!!!!!