GMT Communications Partners, the European independent private equity group, has named Melita as one of the best performers in its portfolio. Describing Melita as "among the best performing assets within our investment portfolio", Massimo Prelz, a partner in GMT Communications Partners, thanked Melita's management team and a highly talented and dedicated workforce for the collective efforts in contributing to Melita's success.

Mr Prelz was in Malta yesterday.

GMT Communications Partners currently hold 50.75 per cent shareholding in Melita; M/C Venture Partners hold 35 per cent; Gasan Group (through Gee Five Limited) 12 per cent, and Blackrock Communications 2.25 per cent.

Two years of strong performance and year on year growth by Melita prompted its international and local shareholders to invest a further €50 million in enhancing its communications network.

The investment programme has just been concluded.

Mr Prelz remarked: "Investing in Malta has been a huge success story for GMT Communications Partners. Melita is a recession-proof company delivering an excellent performance while offering very high value for money to its subscribers across four services".

In 2007, GMT acquired a majority shareholding from Liberty International and the Gasan Group in a leveraged buy-out valued at €165 million. Later that year, Melita signed an agreement with 3G Telecommunications Limited, a subsidiary of investment firm M/C Venture Partners, who acquired a minority interest in Melita. 3G Telecommunications Ltd was awarded Malta's third UMTS license by the Malta Communications Authority and through this transaction, Melita was able to roll out Malta's first third generation only mobile network in February.