The impact of co-channel interference and non-ideal estimation of the desired user channel state information (CSI) on the performance of an adaptive threshold-based generalized transmit diversity for low-complexity multiple-input single-output configuration is investigated. The adaptation to channel conditions is assumed to be based on the desired user CSI, and the number of active transmit antennas is adjusted accordingly to guarantee predetermined target performance. To facilitate comparisons between different adaptation schemes, new analytical results for the statistics of combined signal-to-interference-plus-noise ratio (SINR) are derived, which can be applied for different fading conditions of interfering signals. Selected numerical results are presented to validate the analytical development and to compare the outage performance of the considered adaptation schemes.