Monaco Telecom has, today, announced the completion of its €250 million acquisition of Vodafone Malta.

The takeover sees the appointment of a new Chief Executive Officer – the former head of the firm’s Consumer Business Unit, Tamas Banyai, now occupies the top spot, supplanting ex-Vodafone Malta chief Sonia Hernandez.

Tamas Banyai is taking over the role of CEO 

Monaco Telecom has said the change will allow for a customer-centric approach, in line with Vodafone Malta’s new strategic focus on driving network investment and innovation to broaden its appeal among Maltese customers.

In a press statement, Mr Banyai said the acquisition was a “a timely move for Vodafone Malta as Monaco Telecom’s international experience prepares us for the future at a time when customer needs are changing fast and we have to adapt to globally challenging times.”

He also underlined that his background, which saw him lead the consumer arm of the Business Unit for six years - since 2014 - has given him “a thorough understanding of customers’ changing needs”. He stressed the firm’s strategic drive will that of focusing on “network investment and customer experience,” going on to say that the purpose of the firm was “to connect Malta for a better future”, and that “the need for delivering on this is now more pronounced than ever.”

In the meantime, Monaco Telecom’s CEO, Martin Peronnet, said the company was “delighted to invest in Malta” and expressed the belief that the European telecoms powerhouse brought “a unique blend of international experience, coupled with a deep understanding of telecom markets.”

Martin Peronnet, Monaco Telecom CEO 

He also asserted that the local acquisition was conducted “with passion and dedication.”

Additionally, Mr Peronnet attempted to put customers minds at ease, by stating that the firm will be “fully focused on Vodafone Malta customers’ user experience”, particularly during the coronavirus crisis, and sent out a message of support to Vodafone Malta staff, saying the firm was committed to keeping them safe.

Monaco Telecom is the incumbent telecoms operator of the Principality of Monaco, delivering fixed, internet, TV, mobile services, as well as international data connectivity, housing and cloud services.

In July 2019, Monaco Telecom was the first operator to launch 5G with a nationwide coverage; in fixed broadband, it provides 1Gbs access to all households. Monaco Telecom is owned by the Government of Monaco and by NJJ Holding, a European telecoms family controlled by French entrepreneur Xavier Niel, and owns Epic, the leading alternative operator in Cyprus and, now, Vodafone Malta.