Monaco Telecom completed the acquisition of MTN Cyprus on September 3, 2018, becoming the sole shareholder. MTN Cyprus is the fastest growing telecom operator in Cyprus, with more than 400,000 customers and a turnover of 123 million euros in 2017.
This acquisition is part of Monaco Telecom’s international development strategy, which is being pursued by its shareholders, NJJ and the Government of the Principality of Monaco. It is aiming to build a regional presence in the Mediterranean basin “based on Monaco Telecom’s proven innovation expertise in the areas of mobile, internet and television and its experience in international markets,” the company said.
Martin Peronnet, General Manager of Monaco Telecom, said: “this acquisition is central to our strategy and a major one for Monaco Telecom. We have the ambition to continue the growth of MTN Cyprus and to offer Cypriots high-quality, high-performance and innovative telecommunication services.”
Monaco Telecom provides fixed, mobile, internet and television services with the ambition to offer the best of digital innovation to residents and businesses in the Principality. A cloud infrastructure operator, Monaco Telecom offers tailor-made support to IT players thanks to a powerful and secure international network.