GO's majority shareholder, Emirates International Telecommunications Malta Limited has expressed its intention to the board of directors to seek to dispose of its shareholding in the company in the short term.

This was said by GO in a company announcement filed this morning on the Malta Stock Exchange and signed by company secretary Francis Galea Salomone.

The company said it will make further announcements as and when required by the listing rules.

Emirates International Telecommunications has a 60 per cent shareholding in Go plc.

Yesterday, GO shareholders endorsed the spin-off of a subsidiary, Malta Properties Limited (MPL), into a separate, and publicly listed, entity focused on property management.

As a result, all GO shareholders will receive exactly the same number of shares in the new entity as they currently own in GO.

The company listing will take place before the end of this year and it will continue to be led by chief executive officer Nikhil Patil.

Mr Patil is a director of Emirates International Telecommunications.

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