Monaco Telecom will not be bringing in their own team, now that the company is in the final steps of taking over Vodafone, Martin Peronnet CEO of Monaco Telecom said today.
Last month, Monaco Telecom acquired Vodafone Malta for the sum of €250 million, and on Monday afternoon Peronnet met with members of the media to explain about the company and why Monaco Telecom has decided to invest in Vodafone.
Monaco Telecom is in an agreement with Vodafone, and is currently in the final steps of completion to finalise authorisation for Monaco Telecom to be in Malta. “We are in between signing and closing.” When asked when the deal will be finalised, Peronnet said that the process with Malta Communications Authority (MCA), will be closed by the end of March 2020.
Monaco Telecom is the main operator of Monaco, offering a comprehensive range of fixed, TV and mobile services.
The company has two main shareholders, one being NJJ Telecoms and the government of Monaco. NJJ Telecoms has interest in telecoms operators in Cyprus, Monaco, Ireland and Switzerland. Peronnet explained that by having such two shareholders gives the company a balance between an entrepreneur business and the stability and long-term commitment of the government.
When asked whether Monaco Telecom will be introduced a TV service, Peronnet said whilst it is too soon to say, he said that in all the markets Monaco Telecom try to bring mobile and fixed services. “Vodafone has already opened a fix service, but I believe we need to expand on this. It is too soon to say.”
On the topic of whether there would be any price changes for customers, he explained that the company wishes to expand the footprint of the company, so raising the prices is not the aim, but neither would bringing the price down. “We are not so sure, as we are still working on it, but we are here to be competitive.”
“Monaco Telecom is very technology orientated and very innovation, and all this is due to our size and that we operate in one of the most high end market in the world. This has pushed us to become a sort of showroom, in terms of what is best for telecommunication and to try to be the first to launch new things especially in the mobile market.”
He said that the company has invested in a lot of international markets, and especially in the European countries in Mediterranean, with the company investing in Cyprus and now investing in Malta.
“Vodafone Malta was on the top of our priority list, we think our operation model is quite efficient and that we can help these companies to develop. We know that such companies need a lot of focus and attention, as we understand more than others the meaning of being a leading operator in a small market,” said Peronnet. He highlighted that Monaco Telecom has succeeded in bring 5G in Monaco, and other high end services in Monaco and Cyprus.
When asked whether Vodafone will change their branding, Peronnet expressed that the company brand will remain for transitional period, without indicating how long the period will be. “We have to organise all this, we would need to find the right approach to this. Vodafone is a very powerful brand and we need to think about this as an opportunity, how we can improve this business more. We want to remain to be the number one telecom broadband.”