Monaco Telecom, on Wednesday, completed its acquisition of Vodafone Malta for an enterprise value of €250 million. A statement issued by the company said that the new management will focus on driving network investment and innovation to broaden its appeal among Maltese customers.
Monaco Telecom’s CEO Martin Peronnet, said: “We are delighted to invest in Malta and believe our Group brings a unique blend of international experience, coupled with a deep understanding of telecom markets. We’ve conducted this acquisition with passion and dedication, and view it as key to our strategy.
Prioritising User Experience
Peronnet said the company would be fully focused on Vodafone Malta customers’ user experience, especially during this extraordinary period in which the world is struggling to counter the disruption caused by the COVID-19 pandemic. He also sent out a strong message of support to Vodafone Malta staff, who are working hard in the current difficult context to continue delivering stellar service. “We are committed to keep them safe while they offer the best of technology and experience.”
New CEO for Malta appointed
Monaco Telecom also announced it had appointed Tamas Banyai as Vodafone Malta’s new CEO following the departure of Sonia Hernandez.
Banyai, who has led Vodafone Malta’s Consumer Business Unit since 2014, will bring a customer-centric vision to the company.
He said: “This is a timely move for Vodafone Malta as Monaco Telecom’s international experience prepares us for the future at a time when customer needs are changing fast and we have to adapt to globally challenging times.
“My background gives me a thorough understanding of customers’ changing needs and, with our new shareholders, we will be focusing on network investment and customer experience. The purpose of our company is to connect Malta for a better future and the need for delivering on this is now more pronounced than ever.”
Monaco Telecom, which recently acquired Epic – the first alternative operator in Cyprus – is a member of NJJ Holding, a European family of telecoms companies made up of leading operators in the markets of Monaco (Monaco telecom), Switzerland (Salt), Ireland (Eir), Cyprus (Epic) and, as of today, Malta. NJJ Holding is owned by French Entrepreneur Xavier Niel, who also controls Iliad-Free, a leading telecommunication player in France and Italy.
Monaco Telecom received the Malta Communications Authority’s regulatory approval for the acquisition of Vodafone Malta on March 17. The company will continue to operate under the Vodafone brand for a transitional period.
About Monaco Telecom
Monaco Telecom is the incumbent operator of the Principality of Monaco, delivering fixed, internet, TV, mobile services, as well as international data connectivity, housing and cloud services. Monaco Telecom has developed a strong technological approach to telecommunications: in July 2019, Monaco Telecom was the first operator to launch 5G with a nationwide coverage; and in fixed broadband, it provides 1Gbs access to all households. Monaco Telecom owns Epic, leading alternative operator in Cyprus and Vodafone Malta, the leading mobile operator in Malta. Monaco Telecom is owned by the Government of Monaco and by NJJ Holding, a fast-growing European telecoms family controlled by Xavier Niel.
About Vodafone Malta
Vodafone Malta is Malta’s leading telecoms and technology service provider, offering state-of-the-art mobile, fixed telecommunication and internet solutions for its customers. The company has built Vodafone Supernet, Malta’s best mobile network certified by Umlaut.