GO is to announce the preferred bidder for its sale later this month, the company said today.

In a statement to the Malta Stock Exchange, the company said that together with its advisors it was evaluating binding offers for the sale, authorised by its board of directors in October.

The company said that following the approval, it released initial information about the GO Group to various potential investors.

Several investors pursued the initiative and after signing the necessary non-disclosure agreements, received an extensive information memorandum enabling them to submit non-binding offers.

In February, GO received a number of non-binding offers and after careful evaluation, bidders were then granted access to the data room.