This spec is new to me, is it plate current vs grid drive?
11.5mA/V = 11500µMho the transconductance of the tube
Side-topic:
Ohm's Law arranged to calculate resistance: Ohms = Volts/Current
"Transconductance" on American data sheets is defined (in the front-matter of the tube manual) as "change in plate current for a change of grid voltage." That's Current/Volts, to take the words and put them in math form. That's also the form of Ohm's Law quoted above but flipped upside down. So they also wrote "Ohm" backwards in the old days, and called the unit "Mho."
1 Mho = 1 Ampere/1 Volt but we might get a tube plate to pass 1mA more for a 1v change of grid voltage (in a preamp tube), so transconductance is 1 milli-mho. Some tubes had even less current change for 1v of grid voltage change, so micro-mho seemed to be the norm. Our 1 milli-mho tube above then can be called a 1000 micro-mho tube.
But the European system conveys more useful information if you didn't already know all of the above. How do you use it?
Look at Franco's original post: data says 130mA at max output with a 8kΩ load, which implies 130mA
2 * 8kΩ = 135w (assuming everything is RMS; overage above 120w goal is probably distortion and some other factors). The sheet says 36v RMS for that 130mA, so you need/have a tube with 130mA/36v = ~3.6mA/v or 3600 micromhos in the American naming system. Assuming we didn't know the driving voltage from the data sheet, we could note what Franco says that the GU-50 runs from 3-5.5 mA/v and know that for our needed 130mA plate current the drive voltage will need to be between 130mA/5.5mA = 23.6v RMS up to 130mA/3mA = 43.3v RMS. Since the tube's grid shouldn't run positive unless a special driver is designed to deliver grid driving power, the output tube bias and peak drive to the output tubes should be up to 43.3v RMS * 1.414 = 61v.
The normal bias will probably less than the worst-case noted above, and the driver/phase inverter probably won't have to output 61v peak, but a good design should allow adjustment to both that bias level and a phase inverter capable of throwing 61v peak to allow for the range of output tube Gm tolerance.