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May 18, 2006 / 1:20 PM

Dubai group buys 60 percent of Maltacom

DUBAI, United Arab Emirates, May 18 (UPI) -- A Dubai investment group has purchased a controlling interest in Malta's telecom provider Maltacom.

The Maltese government said in a release Wednesday that its shares were sold to Emirates International Telecommunications (Malta).

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Dubai's Khaleej Times Thursday described the company as a consortium made up of Tecom Investments and Dubai Investment Group.

The firm plans to invest in infrastructure that would increase bandwidth connections between Malta and Italy and allow introduction of new broadband products.

The remainder of Maltacom's shares remain in the hands of private investors.

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