Monaco Telecom

Monaco Telecom Reinforces its Positioning in Mediterranean Regio

Monaco Telecom signed an agreement with Phoenix Tower International to own and operate tower sites across Malta and Cyprus

Owned by the Government of Monaco and by NJJ Holding – a European family of telecoms companies leads Xavier Niel, made up of operators in Monaco, Switzerland (Salt) and Ireland (Eir) – Monaco Telecom took over in 2018, of the company Epic, alternative operator in Cyprus and leading mobile operator in Malta.

After this buyout, Monaco Telecom acquired last March 2020, Vodafone Malta at a company value of 250M€, becoming the unique shareholder of the leading mobile operator in Malta with more than 256 000 customers.

Continuing in its strategy to grow the international development in the Mediterranean regio, Monaco Telecom and Phoenix Tower International announced yesterday the signing of a definitive agreement to purchase over 815 wireless and acquire newly constructed wireless towers over 6 years across Malta and Cyprus through a build-to-suit program.

Founded in 2013 with a mission to provide wireless operators across the Americas in high-growth markets, Phoenix owns and operates over 10,000 towers, 986 km of fiber and over 80,000 of other wireless infrastructures and related sites throughout Europe, the United States, Latin America and the Caribbean. 

This transaction positions Phoenix as the largest tower infrastructure provider in Cyprus & Malta markets, and materially expands its growing footprint in Europe that further solidifies the company’s leadership position.

It also consolidates Monaco Telecom’ strategy to leverage its strong know-how (first operator to achieve nationwide coverage in 5G in July 2019) and experience of international markets to build a solid presence in the Mediterranean area.

“This transaction allows us to create a strategic partnership in Cyprus and Malta with a leading international firm, to accelerate our investment plans on 5G and fiber where we are present.”

Martin Péronnet, CEO of Monaco Telecom

Phoenix and Monaco Telecom have established a long-term partnership whereby Monaco Telecom will occupy the sites for at least twenty years. 

Article/ Joana Foglia – Sources: Phoenix, Monaco Telecom

Post Author: Wealth Monaco