Monaco Telecom completes Vodafone Malta acquisition
Monaco Telecom, which completed its acquisition of Vodafone Malta for an enterprise value of €250m yesterday, said in a statement that it 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.”
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: “We are committed to keep them safe while they offer the best of technology and experience.”
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, the statement read.
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 customers’ 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 yesterday, 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 17 March. The company will continue to operate under the Vodafone brand for a transitional period.