Monaco Telecom announced that it ha today completed its acquisition of Vodafone Malta for an enterprise value of €250 million, adding that it will focus on driving network investment and innovation to broaden its appeal among Maltese customers.

The company said it will continue to operate under the Vodafone brand for a transitional period.

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 explained 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.”

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.”

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

Mr Banyai, who has led Vodafone Malta’s Consumer Business Unit since 2014, will bring a customer-centric vision to the company, it said.

He said, “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 received the Malta Communications Authority’s regulatory approval for the acquisition of Vodafone Malta on March the 17th.

Photo: Tamas Banyai

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