Monaco Telecom to acquire MTN Cyprus
MONACO, 16 July 2018 Monaco Telecom today announced that it has reached an agreement with MTN Group to purchase the entire issued share capital of MTN Cyprus, the fastest growing mobile and fixed operator in Cyprus with more than 400,000 customers and 2017 Revenues of EUR 123 million.
The transaction is expected to close in the third quarter of 2018.
The move forms part of Monaco Telecom’s strategy to build a regional presence in the Mediterranean Basin. Monaco Telecom has a long tradition of innovation in mobile, fixed broadband and pay-TV and is now expanding into new markets where it can offer customers innovative products & services relying on high quality broadband networks.
Commenting on the transaction, Martin Peronnet, CEO of Monaco Telecom, stated: “We are very pleased with the acquisition of MTN Cyprus. The Company has an excellent management team and, relying on its state of the art mobile network, it has achieved strong growth over the past few years. MTN Cyprus is a perfect fit with our industrial vision to offer high quality services in both fixed and mobile to our customers.”
Monaco Telecom was advised by Lazard Frères, Paul Hastings LLP, Goodwin and Deloitte.
Governance, Investment, Business Development
6 年Martin, congratulations! Excellent business decision. I keep my fingers crossed for the success of this undertaking. PS. As a Systemics Group, we are currently implementing several projects in Cyprus for telecommunications operators and this is a very promising market. Good luck!
Senior Key Account Manager / Senior Advisor / Value Added Service Manager
6 年Félicitations à tou(te)s. MT et l'international, une longue histoire qui continue donc!!
PRESIDENT de J & A CONSULTING SAS
6 年Bravo Martin pour ce deal stratégique.
Telecommunication and Business Systems Consultant
6 年Congratulations Martin and team.
Network Investment Manager- APAC
6 年Congratulations Martin