Monaco Telecom completes Vodafone Malta acquisition for €250 million

Monaco Telecom receive regulatory approval to complete purchase of Vodafone Malta, promises to focus on network investment and innovation

Vodafone Malta has been purchased by Monaco Telecom for €250 million
Vodafone Malta has been purchased by Monaco Telecom for €250 million

Monaco Telecom has completed its acquisition of Vodafone Malta for an enterprise value of €250 million after receiving regulatory approval.

Monaco Telecom said that it will focus on driving network investment and innovation to broaden its appeal among Maltese customers.

The Monegasque company received the Malta Communications Authority’s regulatory approval for the acquisition on 17 March. The company will continue to operate under the Vodafone brand for a transitional period.

Monaco Telecom CEO Martin Peronnet said the investment in Malta would bring about international experience and a “deep understanding” of telecom markets.

“We’ve conducted this acquisition with passion and dedication, and view it as key to our strategy,” he said.

Peronnet added that 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.

Monaco Telecom has appointed Tamas Banyai as Vodafone Malta's new CEO
Monaco Telecom has appointed Tamas Banyai as Vodafone Malta's new CEO

Monaco Telecom also announced it had appointed Tamas Banyai as Vodafone Malta’s new CEO following the departure of Sonia Hernandez.

Banyai has led Vodafone Malta’s Consumer Business Unit since 2014. 

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.”

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.

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