BusinessToday Previous Editions

02.04.2020 3 NEWS Monaco Telecom completes Vodafone Malta acquisition for €250 million Monaco Telecom receive regulatory approval to complete purchase of Vodafone Malta, promises to focus on network investment and innovation KURT SANSONE MONACO Telecom has completed its acquisition of Vodafone Malta for an enterprise value of €250 million after receiving regulatory approval. Monaco Telecom said that it will focus on driving network investment and in- novation to broaden its appeal among Maltese customers. e Monegasque company received the Malta Communications Authority's regulatory approval for the acquisition on 17 March. e company will contin- ue to operate under the Vodafone brand for a transitional period. Monaco Telecom CEO Martin Peron- net said the investment in Malta would bring about international experience and a "deep understanding" of telecom markets. "We've conducted this acquisition with passion and dedication, and view it as key to our strategy," he said. Peronnet added that the company would be fully focused on Vodafone Malta customers' user experience, especially during this extraor- dinary period in which the world is struggling to coun- ter the disruption caused by the Cov- id-19 pandemic. Monaco Telecom also announced it had appoint- ed Tamas Banyai as Voda- fone Malta's new CEO following the departure of Sonia Hernandez. Banyai has led Vodafone Malta's Con- sumer Business Unit since 2014. He said: "is is a timely move for Vodafone Malta as Monaco Telecom's international experi- ence prepares us for the future at a time when customer needs are changing fast and we have to adapt to globally chal- lenging times." Monaco Telecom, which recently ac- quired Epic – the first alternative op- erator in Cyprus – is a member of NJJ Holding, a European family of telecoms companies made up of leading operators in the markets of Monaco (Monaco Tel- ecom), Switzerland (Salt), Ireland (Eir), Cyprus (Epic) and, as of today, Malta. NJJ Holding is owned by French Entre- preneur Xavier Niel, who also controls Iliad-Free, a leading telecommunication player in France and Italy. Monaco Telecom has appointed Tamas Banyai as Vodafone Malta's new CEO Coronavirus 19 new cases recorded, total up to 188 THERE were 19 new cases of Covid-19 between Tuesday and Wednesday, bringing the total to 188, Public Health Superintendent Charmaine Gauci said. Of the new cases, 14 were local trans- mission, including a 23-year-old Mal- tese worker at the Safi Lidl supermar- ket. Gauci said the Lidl worker started experiencing light symptoms on 27 March. Contact tracing is being done with the man's work colleagues and an- ybody who shopped at the Safi super- market between 26 and 31 March is be- ing asked to get in touch with the health authorities if they experience acute res- piratory symptoms. However, Gauci said the contact the worker had with customers was mini- mal. She said the supermarket has been disinfected and will be able to re-open when the company decides to do so. She reiterated her appeal for people to stay inside as much as possible to reduce the spread of the virus. She also called on those who are positive and re- covering at home to stay in quarantine until given the all-clear by the health authorities, even if they feel better. Only two people have so far recovered fully since the first cases were recorded in the first week of March. Public Health Superintendent Charmaine Gauci THE Malta Financial Services Au- thority (MFSA) has become aware of emails, which appear to be scam emails, targeting persons in Malta. An individual, going by the name of Andrew Yaku and claiming to work in the financial services industry outside of Malta, is contacting prospective clients via email stating to represent a high profile client "who has some funds he wants to invest outside his home country. ere is need to move the funds out from the present loca- tion through bank using an individual who can invest it in a lucrative busi- ness venture." e MFSA cautioned the public against replying to such emails and to refrain from providing personal details as information available to the MFSA suggests that these emails are likely to be a scheme of dubious na- ture with a high risk of loss of money. Furthermore, the public should therefore refrain from undertaking any business or transactions with the above-mentioned individual. e MFSA strongly advises inves- tors and consumers of financial ser- vices that prior to making any invest- ment or entering into any financial services transaction they should make sure that the entity with whom the investment or transaction is being made is authorised to provide such services by the MFSA or another fi- nancial services regulatory authority as applicable. MFSA warning on email scam

• Cover