GO employees’ working conditions would not be affected in any significant manner by an eventual acquisition by Tunisie Telecom, the Maltese company’s board of directors said.

In an opinion issued this morning, GO’s board of directors said the Tunisian firm’s takeover bid proposed to retain senior management and leave the company’s management structure unaltered.

Employees, the board said, also had little to fear, saying Tunisie Telecom considered them to be “critical” to GO’s long-term success.

“In the absence of unforeseen circumstances, [Tunisie Telecom] does not expect to implement any significant changes to conditions of employment or any significant changes to existing policies on human capital,” GO’s board opinion said.

The board said that they had an “overall positive opinion” on the implementation of the takeover bid, saying the Tunisie Telecom had plans to gain a foothold in the Mediterranean region and was “committed to continue investing in Malta and to support GO’s investments," including 4G, the roll-out of fibre-to-the-home technology and expansion of data centres.

The board noted that Tunisie Telecom had spent an average of €99 million every year over the past two years in its home market to upgrade networks and apply “best-in-class” technology standards.

The board opinion noted that Tunisie Telecom had no intention of delisting GO, although it added two caveats: the Tunisian company might end up buying so many shares that GO would either no longer satisfy the MFSA’s listing rules, or it would “no longer be feasible” for Tunisie Telecom to keep the company on the Stock Exchange.

The board made it clear that it was not passing comment on Tunisie Telecom’s price offer. The company has made GO shareholders an offer of €2.87 per share.