Early capture of Malta by Italy

[DMA]

Instead of attacking France in June of 1940, where they accomplished no good, the Italians simply send a division of troops on a few freighters and ground them on Malta. By the time the British navy gets around to the other side of the island the Italians are on shore and moving away from the ships. The British try to bombard the Italian troops until some are sunk by the Italian submarines and the rest leave.
The Italian troops move overland with just side arms and perhaps some mortors. They overrun an airfield and the reinforcements begin coming in with some mountain artillary. By the end of the week Valetta is under siege and under bombardment by the Italian airforce operating out of the interior of the island, while the British air field near Valetta is under artillary attack and unable to respond. Italian bombers and air transports continue to land ammunition and reinforcements to supplement the invasion force supplies, while the Italian submarines make carrier operations by the British more and more difficult.
By the end of June the Italians have conquered the island except for the city of Valetta itself and the British are penned up, out of supplies, and helpless to fight. The British naval units have been withdrawn, carrying most of the garrison with them.
Now what?

The problem here is the RN already has assets in place to prevent something like this. The action against the French at Oran was on 3 July, the Battle of Punta Stilo was on 9 July 1940, & the Battle of Cape Spada was conducted on 19 July 1940. The RN & RAN won all battles, but more importantly it shows that they've got a substancial number of ships (something like 6 battleships, 2 carriers, several more cruisers & their escorts) in the area preventing any such sneak attack by sea. Again the RN has to be neutralised first. The Italians can't do this themselves. They need substancial German help.