After the completion of the deal, Vodafone Malta will operate under the Vodafone brand for a transitional period, the note says, without specifying the length of the period or how the brand name might change.

Local market watchdog Malta Communications Authority has to give a regulatory green light for the deal to take place, which is expected to happen in Q1 2020.

For the financial year ended 31 March 2019, Vodafone Malta generated €82m of revenue, €32m of EBITDA and €19m of OpFCF, according to the Vodafone press statement.

Akira Partners LLP is acting as exclusive financial advisor to Vodafone and Norton Rose Fulbright LLP is acting as legal counsel, the press statement adds.

Monaco Telecom has operated for more than 15 years and counts more than six million users in more than ten countries, according to the official web page of the service provider. Monaco Telecom is the incumbent telecoms operator in the Principality of Monaco.

The shareholders of Monaco Telecom are the Principality of Monaco and NJJ Telecoms. NJJ Telecoms has interests in telecoms operators in Europe in Cyprus, Ireland, Monaco and Switzerland, the Vodafone press statement adds.

This is the second big communications deal Malta has seen this year: EQT Infrastructure signed an agreement to acquire Maltese telco Melita Ltd in May from Apax Partners and Fortino Capital.

The post Monaco Telecom to buy Vodafone Malta for €250m first appeared on The Malta Business Weekly.

The MoU discusses the strategic themes of the National Digital Strategy 2014-2020 of Malta, which aims to increase awareness of the latest technologies, implement the pilot projects of these technologies with a commitment to realise at least one pilot/proof of concept on IoT and enhance digital literacy among the Maltese population.

On the one hand, Vodafone will be assisting with the transfer of international expertise and know-how. The company will also provide internship opportunities for students and startups.

“This MoU, therefore, cements our commitment toward driving innovation in Malta by leveraging on our international expertise and resources, and stands testament to our commitment to playing a strategic role in being part of Malta’s national digital and innovation strategy,” said Sonia Hernandez, Vodafone Malta CEO.

“I would also like to see more of Vodafone Malta as a house of talent, with more inflow and outflow of talent coming to Malta to learn and experiment, and also to take Maltese talent abroad,” said Serpil Timuray, Vodafone Europe Cluster CEO.

On the other hand, the government will assist with the promotion of training programmes among public sector employees, in addition to upgrading educational content to reflect more current technologies, the press statement says. 

In addition, the government will carry out digital promotional activities, as well as assist with the organisation of awareness campaigns and training programmes for the benefit of citizens and the business community. The government says it will also help identify business areas and use cases within the government where emerging technologies may be piloted, according to the press release. 

“Smart parking in Luqa will be the first such project, which will seek to improve energy efficiency in transport, improve travel awareness among road users, as well as reduce journey times,” said Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri. “The installation of sensors in parking spaces will be connected to an app and will be accessible for everyone through their phones,” he added

“Vodafone is the ideal partner to launch such ambitious plans with. The company thrives to bring its customers the best possible services. This MOU is not just about pilot projects, but also about increasing awareness of disruptive technologies. This country prides itself on embracing innovation,” added Prime Minister Joseph Muscat. 

The post Vodafone Malta vows to promote latest technologies first appeared on The Malta Business Weekly.