The Melita Group said today the company initiated a process of refinancing existing debt weeks ago.

It said the process was underway and involved many international lenders.

As part of and in support of the process, a valuation of the business was conducted within which several offers were received.

But no auction sale process for the sale of the company was initiated.

"The company remains focused on completion of the refinancing process to support its ongoing success and rapid growth," it said.

timesofmalta.com yesterday quoted international media saying that the Group was being sold and the first round of bidding had been completed. It was reported that the first round bids were submitted on March 20.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.