Monaco Telecom, which is taking over Vodafone Malta in a €250 million deal, has not provided a guarantee that it will retain all current employees of the local major operator.

CEO Martin Peronnet told journalists on Monday that decisions about retaining workers would depend on discussions with the current management and on how Monaco Telecom would “reorganise itself in order to be very efficient, independent and innovative”.

Monaco Telecom announced a deal to take over Vodafone Malta late last year. It is hoping to finalise the regulatory process with the Malta Communications Authority by March, he said. 

The telecommunications provider had no other businesses in Malta so it did not foresee any major difficulties, he noted.

'We are here to be competitive'

Fielding questions from journalists, he said it was too early to provide detailed information such as whether the provider would be introducing television services to its customers, dismantle or keep the Vodafone Foundation charity and bring down tariffs. 

“We are here to expand the footprint of the company, and we won’t be able to do that through raising the prices. Will it mean bringing them down? I don’t know yet, but we are here to be competitive,” he said when asked about prices.

He noted that Monaco Telecom will not be bringing over its people, citing a company precedent in Cyprus. 

Monaco Telecom bought out the second largest telecoms operator in that country, Epic, around a year ago, and trusted its local management to run the operation. 

Who are Monaco Telecom? 

Monaco Telecom is the main telecommunications operator in the Principality of Monaco. 

It provides fixed, mobile, broadband, television, cloud and international carrier services among others, and has two shareholders.

The majority shareholder is NJJ Telecoms, which also has interests in telecoms operators in Cyprus, Ireland, and Switzerland, while its second shareholder is the government of Monaco.

The CEO described Monaco’s telecommunications market as “one of the most high-end”, with the provider being “a kind of showroom of what’s best in telecommunications”.

The provider prided itself in investing in new technology: among others, in July 2019 it became the first one in the world to provide nationwide 5G coverage (in Monaco). 

Asked how confident he was in the 5G infrastructure in Malta, he said the provider understood the specifications of this network and it was probably one of the best partners to introduce the service in Malta. 

“I’m confident that 5G will be very important for the country in the coming years and will have to be deployed here as well.”

Power supply

Was he as confident in the power supply, considering the power cuts the island has experienced over the past weeks?

Power supply was a challenge in every country, he said, adding that in Malta it was a “specific challenge”. 

One of the operators’ priorities was to secure an independent power supply or have alternative power supply solutions that would limit the potential impact of any power cut, he said.

However, the topmost priority for Monaco Telecom at the moment was Vodafone Malta’s independence from the group. Following that, it will focus on improving the current service, he added.

Replying to questions about international coverage and roaming, he said the provider had more than 500 deals with international peers in Monaco and Cyprus.