Malta Information Technology and Training Services Ltd (Mitts) has sold its 15,000 shares in Nucleus Training International Ltd (Nucleus) to Philip Toledo Limited.

The shares were sold for €9.32 each, four times their value on Mitts' books.

Following the Cabinet’s consent to the sale, Mitts issued a public call for offers and four bids were received. The highest was submitted by Philip Toledo Ltd.

Communications Minister Austin Gatt expressed his satisfaction that in completing its withdrawal from Nucleus, Mitts managed to attain an excellent price for its equity.

He said that “in its transition into the Malta Information Technology Agency, Mitts will now focus on enabling the local public and private ICT education players to work together in a strong synergy offering next generation training opportunities for Maltese students aspiring to be active players in our growing ICT industry".

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