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Monaco Telecom is the primary telecommunications provider in the Principality of Monaco. Established in 1997, the company was formed following the government of Monaco's decision to privatize the previously state-owned Office Monégasque des Téléphones. Monaco Telecom provides various services including internet access and mobile phone services. It is a key entity in facilitating communication within Monaco and connecting the principality to global telecommunications networks. Additionally, the company operates a retail store which functions as a point of service and customer interaction.

Key Information

Monaco Telecom store

International development

[edit]

Africa

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In August 2012, Monaco Telecom sold its stake in its subsidiary, Afinis Communications - a Casablanca, Morocco-based telecommunications provider serving Africa's largest corporations - to SkyVision. In September of the same year, the Planor/Kome CESSE/Monaco Telecom consortium was awarded Mali's third mobile telephone licence. Monaco Telecom is the technical partner in the consortium, which operates through the Malian company, Alpha Telecom Mali.

Asia

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Monaco Telecom owned a 36.75% stake in Roshan, Afghanistan's leading telecommunications provider, and was the technical lead for the deployment of the Roshan's mobile-telephone network in Afghanistan. Deployment of the network was completed in July 2003. In Afghanistan, which is currently undergoing massive reconstruction, Monaco Telecom also offered a range of complementary telecommunications services, including ISP data networks, leased lines, call centres, and emergency numbers. Monaco Telecom sold its 36.75% stake[2] to AKFED in August 2020, making it the sole owner. Monaco Telecom also has an office in Dubai, in the United Arab Emirates.

Europe

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Cyprus: Since 2018, Monaco Telecom owns Epic (formerly MTN Cyprus) which is one of the largest telecommunication providers in Cyprus with a recorded share of broadband access at 47.8% in 2019.[3][4][5][6] Epic provides integrated mobile and fixed telephony, internet and pay-TV services as well as solutions for businesses. It currently operates 18 stores across all major cities on the island.[7][8]

Kosovo: Monaco Telecom won a 1999 United Nations contract to deploy and extend the Kosovo Telecom GSM network in Kosovo. Today, the mobile network covers over 99% of the population, with more than 1.2 million subscribers. In 2012 the Kosovo mobile telephony contract was extended for a further 3 years.

Malta: In December 2019, Monaco Telecom agreed to acquire Vodafone Malta for a cash consideration equivalent to an enterprise value of €250 million;[9] the acquisition was accomplished on 31 March 2020.[10][11][12][13] On 17 November 2020 Vodafone Malta was renamed Epic.[14][15][16]

Monaco: Monaco Telecom offers Monegasque residents and companies the entire range of products and services expected of a major telecommunications company. Through a concession agreement with Principality, the company holds the monopoly for fixed-line telephone services, internet access and television services while the mobile telephony market is entirely open to competition. Monaco Telecom currently owns and operates 2 sales outlets in Monaco.

Sector Number of customers
Fixed 22 096
Mobile lines 42 800

OnAir Communications

[edit]

Since 2006, Monaco Telecom has been providing OnAir with infrastructure enabling in-flight connectivity—via GSM and IP networks—on several Airbus aircraft. In June 2006, OnAir extended its agreement with Monaco Telecom to include the development and management of its entire land-based network supporting GSM and GPRS calls originating from anywhere in the world. The first in-flight tests, on a commercial flight, were conducted in December 2007. By the end of 2011, the OnAir system was available in about a hundred aircraft operated by about fifteen companies. In June 2010, Monaco Telecom and OnAir broadened their range of services to include a new offer OnMarine extending the maritime communications network.

Research and development

[edit]

Monaco Telecom is a member of Eurecom, an engineering school and communication systems research centre based in Sophia Antipolis, France.

Shareholders

[edit]

Monaco Telecom is 51.2% owned by Xavier Niel, founder and largest shareholder of the Paris based Iliad SA. The principality of Monaco owns the remaining 49.8% through the wholly owned Société Nationale de Financement.[1]

Key dates

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  • 2024: Since January 31, 2024, no residents have accessed the internet via the copper network in the Principality.
  • 2021: The Fiber network is deployed across the entire territory and the offers marketed for individuals and businesses in Monaco. n May, the Monegasque State renewed its public concession with Monaco Télécom for twenty years.
  • 2020: On 31 March Monaco Telecom acquires Vodafone Malta.[10][11][12][13]
  • 2019: On 9 July Monaco Telecom launched its 5G network in conjunction with the presentation of the commercial offer.[17][18] Within the same year the company has re-branded its MTN acquisition in Cyprus as epic[19]
  • 2018: On 16 July Monaco Telecom acquires MTN Cyprus.[20]
  • 2015: On 8 September Monaco Telecom launched the ultra high speed broadband service using DOSCIS 3.0. Speed reaches 1Gbit down and 200Mbit up.
Launch of LTE advanced in Monaco.
Introduction of a new logo and a new visual identity.
  • 2014 : Acquisition of Monaco Telecom by Xavier Niel,[21] (founder and majority shareholder of the French Internet service provider and Mobile operator Iliad trading under the Free brand)
African group Azur Telecom chose Monaco Telecom to accompany him in his development.[22]
  • 2013 : Monaco Telecom and global carrier Level 3 signed a strategic agreement for international connectivity
Launch of LTE in Monaco.
  • 2012 : the Planor/Kome CESSE/Monaco Telecom consortium was awarded Mali's third mobile telephone licence.
Monaco Telecom sold its stake in its subsidiary Afinis Communications to SkyVision.
Kosovo mobile-telephony contract extended for a further 3 years.
  • 2011 : Monaco Telecom launches its 4G LTE pilot service.
Provides circuit-wide WiFi coverage for the Monaco Formula 1 Grand Prix.
Education & Research: Eurecom names its future Class of 2011-2012, "Monaco Telecom".
The Open des Artistes de Monaco art competition: artists' contributions illustrate the telephone directory of the Principality.
Monaco Telecom and Cable&Wireless Communications announce the formation of Afinis Communications, following the merger of Divona's and Connecteo's sales operation.
  • 2010 : OnAir and Monaco Telecom launch OnMarine, an extended maritime communications service.
Monaco Telecom partners with Eurecom.
Launches 30MB high-speed broadband and full digital TV services.
  • 2009 : Outdoor demonstration of mobile WiMax technology in Monaco.
Martin Péronnet appointed as CEO (5 January 2009).
  • 2008 : Monaco Telecom sells 60% of its stake in its call centre, eCALL.
Acquires Connecteo, a VDI service provider with operations in 6 African countries.
CWI selects Monaco Telecom to establish its first mobile WiMax Centre of Excellence, in partnership with Alvarion, Cisco and Nokia.
  • 2007 : Monaco Telecom unifies its four core service offerings (landline and mobile telephony, internet and television) under the Monaco Telecom brand, and changes its corporate visual identity.
  • 2006 : Monaco Telecom opens an office in Dubai.
  • 2005 : OnAir selects Monaco Telecom for its land-based infrastructure (in-flight GSM telephony services).
  • 2004 : U.K.-based Cable & Wireless International buys Vivendi Telecom International's stake in Monaco Telecom.
Monaco Telecom sets up two satellite telecommunications subsidiaries in the Maghreb: Tunisia-based Divona Telecom and Divona in Algeria.
  • 2003 : Signs mobile network management services agreement with Afghanistan-based Roshan.
  • 1999 : Awarded mobile network management services contract in Kosovo.
Vivendi Telecom International acquires 51% stake in Monaco Telecom.
  • 1997 : Government of Monaco privatizes Office Monégasque des Téléphones and forms Monaco Telecom.
  • 1996 : The Principality of Monaco assigned its own country calling code (377).
  • 1994 : GSM network deployed in the Principality.
  • 1890 : First public telephones in the Principality of Monaco.

Corporate responsibility

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For several years Monaco Telecom has spearheaded initiatives to measure electromagnetic field intensities to reassure the public that its installations do not pose a health risk. As of November 2010, electromagnetic wave emissions are regulated under Monegasque legislation, itself inspired by the most stringent regulations in the industry, i.e., an electric-field intensity threshold of 6 Volts/metre for radio antenna, television, walkie-talkie, and WiFi emissions, and 4 Volts/metre for mobile-telephone relay antennas. Compliance with threshold values is monitored by the government-run DCE (Direction des Communications Electroniques) during annual measurement campaigns, or whenever new mobile radio frequency emitting equipment is brought into service.

References

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[edit]
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Monaco Telecom

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Monaco Telecom is the incumbent telecommunications operator in the Principality of Monaco, providing comprehensive services including fixed-line telephony, mobile communications, high-speed internet, television, and international data connectivity.[1] Established in 1997 following the liberalization of Monaco's telecommunications market, the company has grown into a key player in the region's digital infrastructure, serving both residential and business customers with advanced technologies such as nationwide 5G coverage launched in 2019 and fiber-optic broadband speeds up to 10 Gbps.[2][1] Owned approximately 50% by Salt Mobile (through its subsidiary GP Holdings) and 50% by the Monegasque Government through its National Finance Corporation, Monaco Telecom operates as a Société Anonyme Monégasque (S.A.M.) with approximately 250 employees.[1][3] The company was initially acquired by Cable & Wireless in 2004 before Niel's NJJ Holding purchased a majority stake in 2014 for €322 million, which was subsequently sold to Salt Mobile in September 2025, marking shifts in its strategic direction toward innovation and expansion.[2][4][5] Beyond its core operations in Monaco, Monaco Telecom extends its influence internationally through subsidiaries like Epic, a leading telecom provider in Cyprus and Malta's top mobile operator, and maintains a secure global network connecting Monaco to regions including Africa, the Middle East, and Asia via the Europe India Gateway submarine cable.[1][6] The company plays a pivotal role in Monaco's digital transformation, partnering on initiatives like the MonacoTech startup program and committing to sustainability as a signatory to the Principality's National Pact for reducing greenhouse gas emissions, while operating physical boutiques in Fontvieille and Monte-Carlo to support customer access.[1][7]

History

Establishment and Privatization

Monaco Telecom was established in 1997 through the privatization of the state-owned Office Monégasque des Téléphones (OMT), marking a significant shift in the Principality's telecommunications sector from public to private management.[2][8] This transition was driven by a government decision to liberalize services and enhance efficiency, transforming the OMT into a Société Anonyme Monégasque (SAM) under Monaco's commercial law, with registration number 97S03277 reflecting its founding year.[9] Initially, the Monegasque government retained a majority stake, ensuring oversight while allowing private sector involvement to drive innovation and expansion.[10] Upon its formation, Monaco Telecom launched core services including fixed-line telephony for residential and business customers, basic mobile communications under the local 377 country code, and early internet access via dial-up and nascent broadband options.[2] These offerings built on the OMT's legacy infrastructure while introducing competitive elements, such as bundled voice and data packages, to meet the demands of Monaco's affluent population and international community. The company's exclusive license for domestic fixed and mobile services until 2023 underscored its pivotal role in maintaining national connectivity.[2] The first headquarters was located in Fontvieille at 9 Rue du Gabian, a strategic site in the industrial district that supported operational growth and proximity to key infrastructure.[11] This setup facilitated the integration of privatized assets and the rollout of initial services, positioning Monaco Telecom as the incumbent operator responsible for the Principality's public electronic communications network.[9] The privatization laid the groundwork for subsequent ownership adjustments, enabling the company to adapt to evolving market dynamics.

Ownership Transitions

In April 2014, NJJ Capital, the investment vehicle of French entrepreneur Xavier Niel—who founded the low-cost mobile operator Free Mobile—acquired a 55% stake in Monaco Telecom from Cable & Wireless Communications for €322 million.[12] This transaction transferred control from the previous majority owner, leaving the Principality of Monaco with its existing 45% stake and establishing a joint ownership structure between NJJ Capital and the government.[12] Under NJJ Capital's majority ownership, Monaco Telecom aligned its operations with broader strategies from Niel's Iliad Group ecosystem, prioritizing investments in mobile network enhancements and fiber-optic infrastructure deployment to support high-speed connectivity in the Principality.[1] These efforts contributed to achieving 100% fiber coverage across Monaco by 2023, phasing out the legacy copper network.[13] On September 18, 2025, Salt Mobile, operating through its parent entity Matterhorn Telecom, announced its intention to acquire NJJ Capital's 50.01% controlling stake in Monaco Telecom for €625.4 million.[5] The transaction involves purchasing 90% of shares in GP Holding SAS, the entity indirectly holding NJJ's interest, and was financed partly through a €500 million issuance of senior secured notes due in 2030, supplemented by term loans and other facilities.[14] The deal is subject to regulatory approvals and is expected to close following the completion of financing arrangements. As of November 2025, Monaco Telecom remains co-owned by NJJ Holding (50.01%) and the Monegasque Government (49.99%).[14][1]

Major Acquisitions and Expansions

In the 2010s, Monaco Telecom expanded its international footprint through strategic stakes in emerging market operators, focusing on providing technical and management services. A key initiative was its involvement in Roshan, Afghanistan's largest telecommunications provider, where Monaco Telecom held a 36.75% stake through its subsidiary Monaco Telecom International. This stake, originally established under previous ownership, supported Roshan's network deployment and operations in a challenging market. Monaco Telecom subsequently sold its stake in Roshan to the Aga Khan Fund for Economic Development (AKFED), which became the sole owner following the divestments by minority shareholders.[15] In 2018, Monaco Telecom acquired MTN Cyprus, rebranding it as Epic and establishing a leading position in the Cypriot telecommunications market. Earlier in the decade, Monaco Telecom divested from other international ventures to refine its portfolio. In 2012, it sold its African satellite communications business Afinis, which operated in francophone West Africa including Burkina Faso, Guinea, and Senegal, to SkyVision Group for an undisclosed sum. This transaction transferred local licenses and offices to the buyer, marking an exit from certain African enterprise services. Afinis had been formed from the merger of Monaco Telecom's prior African operations, Divona and Connecteo, highlighting an earlier phase of regional expansion.[16] A significant milestone came in 2020 with the acquisition of Vodafone Malta for an enterprise value of €250 million, completed after regulatory approval from the Maltese Communications Authority. The deal positioned Monaco Telecom as a major player in the Mediterranean telecom market, with the acquired entity rebranded as Epic Malta. Post-acquisition, Epic achieved the leading mobile market share of approximately 42%, driven by investments in network enhancements and customer growth. This purchase aligned with Monaco Telecom's strategy to consolidate presence in Europe.[17][18][19] Beyond equity stakes, Monaco Telecom pursued operational expansions through service contracts in select regions. In Kosovo, it has maintained a long-standing mobile network management agreement with state-owned Post and Telecom of Kosovo (PTK) since 1999, with multiple extensions including in 2009 and 2012, providing technical support for PTK's GSM and subsequent upgrades.[20] Similarly, in Africa, Monaco Telecom entered Mali in 2012 by securing a contract to manage the third mobile operator, Alpha Telecom Mali, following the government's award of a national license to a consortium including Planor Group and Monaco Telecom International for FCFA 52 billion. While details on partial exits from Mali remain limited, these ventures underscored Monaco Telecom's expertise in supporting infrastructure in developing markets. As part of its broader growth, Monaco Telecom rolled out 5G services in Monaco in 2019, enhancing its technological capabilities for international expansions.[21][22]

Operations in Monaco

Domestic Services

Monaco Telecom provides fixed-line telephony services to approximately 43,000 customers in the Principality as of 2023, offering voice calls bundled with television packages that include premium channels and on-demand content.[23] These services support unlimited calls to fixed lines in Monaco and France, along with features such as caller ID, voicemail, and call waiting, catering to both residential and business users.[24] The company's mobile services serve around 40,000 subscribers in Monaco as of early 2025, with options for prepaid and postpaid plans featuring 5G connectivity and data packages up to unlimited usage.[25] These plans include roaming agreements, notably with major French operators like Bouygues, SFR, and Free since March 2024, enabling seamless access to the Monegasque network for visitors without additional roaming charges.[26] Internet services are delivered through La Fibre, a fiber-optic broadband network providing symmetrical speeds up to 10 Gbps, with 100% coverage across Monaco achieved in 2023 following the transition from copper infrastructure.[27] This upgrade ensures low-latency connections suitable for high-bandwidth activities like video streaming and remote work.[28] Additional offerings include cloud services hosted in secure data centers within Monaco, enabling scalable storage and virtualization for businesses.[29] IP telephony via TrunkSIP provides flexible VoIP solutions bridging IP systems with SIP protocols for enhanced security and integration.[30] For high-net-worth clients, Monaco Privé delivers tailored enterprise solutions, including dedicated 24/7 support, global mobile packages, and private consultations for mobile, internet, fixed-line, and TV needs.[31] Monaco Telecom maintains a retail presence through two boutiques in the Principality: one in Fontvieille at 9 Rue du Gabian (open Monday to Saturday) and another in Monte-Carlo at 27 Boulevard des Moulins (open Monday to Friday). Customer support is available seven days a week from 8 a.m. to 10 p.m. via phone at +377 99 66 33 00 or email, with prioritized assistance for professional clients.[32][33]

Infrastructure and Network Upgrades

Monaco Telecom has undertaken significant infrastructure developments to modernize its telecommunications network within the Principality, focusing on transitioning from legacy systems to advanced fiber-optic and wireless technologies. The company achieved full fiber-optic coverage across Monaco by April 2023, marking the completion of a multi-year rollout that began in 2019 and connected all eligible buildings to high-speed broadband infrastructure.[28] This upgrade enables symmetrical download and upload speeds of up to 10 Gbps for business customers through its Fiber Pro service, launched in November 2021, enhancing data stability and supporting digital transformation for enterprises.[34] As part of this fiber-centric strategy, Monaco Telecom initiated the shutdown of its copper network to phase out outdated infrastructure. Consumer internet services over copper were discontinued in December 2023, with the full network switch-off completed at the end of 2024, ensuring all broadband services migrate exclusively to fiber optics.[35][36] This transition requires on-site technician interventions to connect households and businesses directly to the new fiber lines, promoting greater reliability and scalability for fixed-line services.[13] In mobile infrastructure, Monaco Telecom pioneered 5G deployment through a strategic partnership with Huawei, announced in September 2018, aimed at achieving nationwide coverage.[37] The collaboration included a pilot demonstration at the Monaco Yacht Show in September 2018, where 5G enabled real-time 360-degree high-definition video streaming via drone to virtual reality headsets.[38] Full commercial 5G rollout commenced on July 10, 2019, making Monaco the first country in Europe—and among the first globally—to provide complete 5G coverage across its territory using Huawei equipment.[39][40] This network delivers low-latency connectivity, supporting enterprise applications with high scalability and minimal delays. Complementing these upgrades, Monaco Telecom operates three data centers within the Principality, providing secure hosting and cloud services for IT and network infrastructures.[41] These facilities, including the state-of-the-art DC3 at 4 Avenue Albert II, offer 24/7 monitoring, virtualization options, and scalable solutions tailored for businesses, ensuring data sovereignty and high availability in a compact urban environment.[42][29] A new basement data center, integrated into the Larvotto Supérieur residential development and approved in 2024, further bolsters capacity for cloud-based operations.[43]

International Presence

European Operations

Monaco Telecom's European operations center on its full ownership of Epic, which delivers integrated fixed-line, mobile, broadband, and pay-TV services across Cyprus and Malta, leveraging synergies in the Mediterranean region to enhance network interoperability and service offerings. These activities represent a significant portion of the group's international footprint, with a focus on infrastructure modernization and market leadership in mobile connectivity.[1] In September 2025, Swiss operator Salt announced its acquisition of NJJ Holding's majority stake in Monaco Telecom, though this does not immediately affect ownership of subsidiaries like Epic.[5] In Cyprus, Epic operates as the leading alternative telecom provider, offering comprehensive fixed and mobile services to residential and business customers. As of 2019, Epic commanded a 47.8% share of the broadband access market, underscoring its strong position in high-speed internet delivery.[44] By 2024, Epic's fixed network achieved notable performance recognition, earning Ookla's Speedtest Award for the Fastest Fixed Internet Network in Cyprus during the first and second quarters, based on a Speed Score of 147.56 derived from millions of user-initiated tests.[45] In the mobile segment, Epic holds approximately 34.8% of connections as of 2024, while continuing investments in 4G and emerging 5G capabilities.[46] Epic's presence in Malta solidified following Monaco Telecom's €250 million acquisition of Vodafone Malta in April 2020, which rebranded to Epic and positioned it as the market leader in mobile services. By 2025, Epic Malta maintains a 42% share of the mobile market in a competitive three-player environment, supported by a nationwide 5G rollout completed by 2024 in partnership with Ericsson as the exclusive radio access network provider.[47][48][49] This expansion included €20 million in financing from the European Investment Bank to achieve 99% 5G population coverage and extend fiber-to-the-home (FTTH) infrastructure, addressing the country's low fixed-line penetration of around 7%.[50] Epic Malta's network has been independently verified as the best in the country, powering high-speed data services up to 1.5 Gbps.[51] In Kosovo, Monaco Telecom conducts mobile operations through a long-standing partnership with Post and Telecom of Kosovo (PTK), stemming from a 1999 United Nations contract to deploy and manage the GSM network. This arrangement has enabled coverage of over 99% of the population, with extensions including a 2012 agreement focusing on enhancing mobile customer offerings and infrastructure reliability.[52] While specific market share attribution to Monaco Telecom remains tied to PTK's overall operations, the collaboration supports Kosovo's telecom ecosystem amid a concentrated market dominated by private and state entities. Monaco Telecom has redirected resources toward core Mediterranean markets to capitalize on regional growth in digital services and connectivity.

Other International Ventures

Monaco Telecom's international activities beyond Europe have been limited, focusing on selective investments in emerging markets and niche global services, with a strategic shift toward divestitures since 2020 to prioritize core operations in Monaco and nearby regions.[53] In Africa, the company entered the market through a consortium with Planor Afrique, securing Mali's third mobile license in January 2013 for approximately €84 million.[54] This joint venture launched as Alpha Telecom, providing mobile services across the country, and was branded as Telecel Mali. Monaco Telecom maintains an ongoing minority stake in this operation, supporting its presence in West Africa amid challenging market conditions.[55] The company has divested from other African ventures by 2020, streamlining its portfolio to reduce exposure to high-risk environments.[56] In Asia, Monaco Telecom held a 36.75% stake in Roshan, Afghanistan's largest mobile operator serving over 10 million subscribers with voice, data, and financial services. This interest was acquired prior to 2014 through its parent company's portfolio. In August 2020, Monaco Telecom International sold the entire stake to the Aga Khan Fund for Economic Development, enabling a refocus on more stable markets.[53] Monaco Telecom also provides specialized global connectivity through partnerships in maritime and in-flight sectors. Since 2006, it has supplied ground infrastructure for OnAir, enabling mobile connectivity for passengers and crew on international flights via satellite technology.[57] This collaboration extended to maritime services, offering broadband and voice solutions for ships worldwide.[57] These ventures leverage Monaco Telecom's expertise in international roaming and satellite integration to serve remote, mobile environments.

Ownership and Governance

Current Shareholders

In September 2025, Salt Mobile, operating through its holding company Matterhorn Telecom, acquired a 50.01% controlling stake in Monaco Telecom from NJJ Capital for €625.4 million through the acquisition of 90% of GP Holding SAS, which indirectly holds the stake, marking a significant expansion into the Mediterranean telecom market.[5][14] This acquisition enables synergies with Salt's Swiss operations, including shared network technologies and cross-border service enhancements for customers in both regions.[58] The remaining approximately 49.99% stake is held by the Monaco Government through its wholly owned entity, Société Nationale de Financement, which maintains influence to ensure alignment with national regulatory and telecommunications policies.[47] Governance of Monaco Telecom features a board composed of representatives from both Salt Mobile and the Monaco Government, with no shares available to the public, preserving a private ownership structure focused on strategic stability. The acquisition has no impact on the governance of Monaco Telecom.[58][14] The transaction was financed primarily through a €550 million senior secured notes issuance and a €130 million term loan facility by Matterhorn Telecom.[59]

Historical Ownership Structure

Monaco Telecom was established in 1997 through the privatization of the state-owned Office Monégasque des Téléphones, initially operating as a majority government-owned entity providing telecommunications services in the Principality of Monaco.[2] In 1999, Vivendi acquired a 51% stake for approximately FFr700 million (equivalent to about €107 million), later increasing it to 55% in 2001, marking the first significant private involvement while the Monegasque government retained the remaining shares.[10] This structure persisted until 2004, when Cable & Wireless purchased Vivendi's 55% stake for €162 million, establishing a joint ownership model with the government holding 45%.[60] Under this arrangement, Monaco Telecom maintained its dominant position as the incumbent operator, benefiting from the Principality's monopoly-like market dynamics. In 2014, Cable & Wireless Communications sold its 55% stake to NJJ Capital, the investment vehicle of French entrepreneur Xavier Niel, for €322 million (US$445 million), resulting in NJJ holding 55% and the Monegasque government 45%. This transaction valued the company at around €585 million and shifted control toward private leadership focused on innovation and expansion. During the NJJ era from 2014 to 2025, Monaco Telecom pursued aggressive growth, including acquisitions in Cyprus (2018) and Malta (2020), which diversified its operations beyond Monaco while leveraging Niel's telecommunications expertise.[4] Financial performance strengthened under this ownership; for instance, in 2015, annual revenue approximated €170 million, reflecting robust domestic and emerging international contributions.[61] Employee numbers also expanded significantly during this period, from approximately 280 in 2015 to 201-500 by mid-2024, supporting operational scaling across multiple markets.[61][62] The NJJ-government partnership emphasized technological upgrades and regional dominance until 2025, when NJJ agreed to sell its stake to Salt Mobile for €625.4 million, transitioning ownership while the government retained its share.[5]

Subsidiaries and Partnerships

Epic Communications

Epic Communications represents Monaco Telecom's key international subsidiaries in Cyprus and Malta, operating under the Epic brand to deliver integrated telecommunications services. These entities focus on mobile, fixed broadband, and related offerings, leveraging shared technological infrastructure from the parent company to enhance service quality across their markets. In Cyprus, Epic was established prior to its acquisition by Monaco Telecom in September 2018, when the company purchased the entire share capital of MTN Cyprus for €260 million.[63][64] Rebranded as Epic in June 2019, it holds a significant 47.8% share of the broadband access market as recorded in 2019, positioning it as one of the island's largest providers.[44] The subsidiary offers a comprehensive suite of services, including mobile connectivity via 4G and 5G networks, fiber-optic broadband, fixed telephony, and pay-TV. In 2024, Epic was recognized as Cyprus's fastest fixed internet network by Ookla's Speedtest Awards for the first and second quarters, achieving a Speed Score of 147.56 with download speeds up to 773.76 Mbps.[65][45] Epic's operations in Malta stem from Monaco Telecom's acquisition of Vodafone Malta in April 2020 for €250 million, following an agreement reached in December 2019.[66][48] The rebranding to Epic occurred in November 2020, establishing it as the leading mobile operator in the country with full nationwide 5G coverage.[67][68] Services encompass high-speed mobile data up to 1,500 Mbps on 5G, fiber broadband, and fixed-line options, with Epic capturing 67% of new mobile customers in Q2 2025 to reinforce its market dominance.[69] Independent audits by the Malta Communications Authority in 2025 ranked Epic as the top-performing mobile network for quality of service.[70] Both subsidiaries benefit from technological integration with Monaco Telecom, including shared expertise in network upgrades and 5G deployment, which supports operational efficiencies. Combined, Epic Cyprus and Epic Malta generated an estimated €200 million in revenue in 2023, contributing significantly to Monaco Telecom's international portfolio.[71] Monaco Telecom maintains 100% ownership of both entities, ensuring aligned strategic development.[72][48]

OnAir Communications

OnAir Communications was a joint venture originally established in 2005 between SITA, a global provider of IT solutions for the air transport industry, and Airbus to deliver in-flight mobile connectivity services using passengers' own devices.[73] In June 2006, OnAir entered into a strategic partnership with Monaco Telecom, under which Monaco Telecom agreed to supply, install, and operate the key ground-based components of OnAir's network infrastructure, including base stations and core network elements to support seamless connectivity.[57] This collaboration enabled the commercial launch of GSM and GPRS services on selected European flights starting in 2007, allowing passengers to make voice calls, send SMS messages, and access basic data services mid-flight as if roaming on a terrestrial network.[57] The core technology behind OnAir's offerings was a hybrid system combining onboard cellular picocells with satellite links to route traffic to ground networks, providing wholesale roaming agreements with mobile operators worldwide and ensuring compatibility with standard devices without additional hardware.[74] Monaco Telecom's role extended to managing the core network support, handling billing, roaming, and interconnection with global carriers to maintain service reliability.[57] In 2010, OnAir expanded into the maritime sector with the launch of OnMarine, introducing full GSM and GPRS mobile connectivity for passengers and crew aboard ships, beginning with Hapag-Lloyd Cruises' MS Europa in June of that year.[75] This extension leveraged the same hybrid satellite-cellular architecture adapted for vessels, enabling voice, text, and low-bandwidth data services at sea while relying on Monaco Telecom's established ground infrastructure for backend operations.[75] Through these services, OnAir supported connectivity for numerous airlines and cruise lines, achieving global reach via partnerships with satellite providers and international operators.[74] In 2013, SITA acquired full ownership of OnAir from Airbus, rebranding it as SITA OnAir while continuing the focus on mobility services for aviation and maritime applications.[76] The partnership with Monaco Telecom, which lasted over 18 years, ended when SITA OnAir ceased operations on January 31, 2025.[76]

Innovation and Research

Research and Development Initiatives

Monaco Telecom has prioritized internal research and development in mobile network technologies, particularly focusing on 5G deployment and optimization to enhance connectivity across the Principality. In July 2019, the company successfully rolled out the first full operational 5G network in Europe, achieving 100% coverage of Monaco's territory and marking a milestone in high-density urban mobile access. This initiative involved extensive internal efforts to integrate advanced spectrum allocation and antenna systems, enabling download speeds up to 1 Gbps and supporting emerging applications in real-time data transmission.[77][78] In the realm of fixed-line infrastructure, Monaco Telecom's R&D has centered on fiber-optic advancements, culminating in the launch of its Pro Fibre service in 2022, which delivers symmetrical speeds of up to 10 Gbps for business users. This development incorporated optimized cabling and routing protocols to minimize latency, facilitating applications in sectors requiring ultra-fast, stable connections such as financial services and online gaming. The solution also features integrated Wi-Fi 6 technology and energy-efficient hardware, aligning with broader goals of scalable network expansion.[79][80] The company's internal projects extend to cloud computing and Internet of Things (IoT) ecosystems, with a emphasis on secure data center infrastructure to underpin Monaco's smart city ambitions. Monaco Telecom operates three dedicated data centers designed for high-availability hosting of IT and network resources, including redundant power systems and advanced cybersecurity measures to protect sensitive data flows. These facilities support IoT-enabled services for urban management, such as connected transport and environmental monitoring, contributing to the Principality's digital transformation. In a related effort, outcomes from Monaco Telecom's involvement with EURECOM have informed internal optimizations in communication protocols for IoT scalability. As of 2025, the company has expanded its R&D to include artificial intelligence (AI) applications for network optimization and generative AI solutions, with dedicated teams focusing on integrating AI into mobile core networks and cloud platforms.[41][81][82][83]

Technological Partnerships

Monaco Telecom has established several key technological partnerships to advance telecommunications research and deployment in the Principality. These collaborations emphasize innovation in wireless networks, security, and broadband infrastructure, often involving leading academic and industry players.[82][84] In 2010, Monaco Telecom joined the EURECOM consortium as an industrial partner, focusing on telecommunications research and development in areas such as digital security, communication systems, and networks. This partnership has supported joint projects, including the SPECTRA initiative from 2010 to 2014, which explored multi-band cognitive radio technologies for improved spectral and energy efficiency in wireless communications. Through EURECOM's digital security department, Monaco Telecom contributes to cybersecurity advancements relevant to telecom infrastructure, aligning with the institute's emphasis on secure networks and data protection.[82][85][86] A significant collaboration began in 2018 with Huawei, aimed at pioneering 5G technology in Monaco. The agreement facilitated a 5G pilot launch at the Monaco Yacht Show in September 2018, followed by full nationwide deployment by July 2019, making Monaco the first European country with complete 5G coverage using Huawei equipment. This partnership extended to Internet of Things (IoT) solutions under the "5G Smart Nation" project, enhancing smart city applications and high-speed connectivity across the Principality.[84][87][88] Monaco Telecom co-founded MonacoTech in 2017 with the Monegasque Government and entrepreneur Xavier Niel, launching it as a startup incubator and accelerator in November 2017. By 2018, after its first year, MonacoTech had conducted multiple application calls, fostering innovation in tech sectors like fintech and greentech. As of 2020, it has hosted and accelerated over 20 startups, providing resources for growth and integration into Monaco's digital ecosystem.[89][90][91] These joint efforts have directly contributed to domestic infrastructure upgrades, such as the 2010 rollout of ultra-broadband VDSL service offering up to 30 Mbps speeds, developed in collaboration with the Monegasque State to modernize the network.[92]

Corporate Responsibility

Sustainability and Environmental Efforts

Monaco Telecom has prioritized the transition from copper-based infrastructure to fiber optics as a key environmental initiative, completing a full rollout across the Principality by 2023 and shutting down the legacy copper network by the end of 2024. This migration enhances network efficiency while reducing overall energy consumption, as fiber optic systems require significantly less power for data transmission compared to traditional copper lines—typically up to 70% lower per 100 meters of cable. The eco-friendly rollout aligns with broader sustainability goals, minimizing the environmental impact of telecommunications operations through durable, low-maintenance materials.[36][93] In support of Monaco's national climate commitments, the company signed the Charter of Commitment to the National Pact on Energy Transition in 2019, pledging to contribute to a 55% reduction in greenhouse gas emissions by 2030 relative to 1990 levels. Monaco Telecom conducted a comprehensive carbon footprint audit in 2023 to inform targeted action plans, with ongoing efforts focused on energy management in data centers, including optimized cooling systems and eco-compatible construction materials that adhere to international standards like ASHRAE. These measures aim toward zero-carbon operations, though specific renewable energy adoption for data centers remains integrated into broader efficiency improvements rather than standalone sourcing.[94][7][41] To address electronic waste, Monaco Telecom maintains a zero-waste policy, recycling 15 tonnes of equipment in 2023 alone, ensuring 100% of decommissioned servers, modems, cables, computers, and network bays are directed to certified reprocessing facilities. This initiative fosters a circular economy model in collaboration with the Monaco government, preventing landfill disposal and recovering valuable materials to reduce resource extraction demands. The program's success underscores the company's role in sustainable waste management within the telecommunications sector.[7]

Community and Social Programs

Monaco Telecom has actively promoted digital inclusion within the Principality by partnering with government initiatives to enhance access to secure and educational digital resources. A key component is the provision of Monaco Care Safety, a free internet security application funded by the Government of Monaco and distributed through all Monaco Telecom internet packages, which includes anti-virus protection, secure browsing, banking safeguards, and parental controls to ensure safe connectivity for users, including during emergencies.[95][96] This service supports low-income and vulnerable residents by offering essential tools for protected online access without additional cost. Additionally, the company collaborates on La Maison du Numérique, a community hub launched in 2023 that provides free digital training and assistance to Monegasque nationals, residents, and employees, attracting over 1,500 visitors in its first six months for workshops on digital skills.[7][97] In the realm of education, Monaco Telecom co-founded MonacoTech in 2017 alongside the Principality of Monaco and entrepreneur Xavier Niel, establishing an incubator program that supports startups through one-on-one coaching, workshops, and entrepreneurial resources tailored to innovative tech projects aligned with national priorities.[98] This initiative fosters training opportunities for young talents, with annual programs selecting cohorts of ambitious projects and providing skill-building sessions that have engaged hundreds of participants, including over 100 youths in digital and entrepreneurial development each year. The company's involvement extends to broader educational efforts, such as connectivity solutions for local schools and associations to promote digital literacy.[99] Monaco Telecom demonstrates philanthropy through targeted donations to local causes, contributing more than €66,000 to the Prince Albert II of Monaco Foundation over five years for environmental and social projects, and €8,972 to the Children & Future association via employee-driven fundraising during the No Finish Line race.[7] During the COVID-19 pandemic in 2020, the company allocated over €1 million in relief efforts, including enhanced connectivity support and contributions to health-related initiatives in the Principality. These efforts underscore a commitment to community welfare amid crises. Employee volunteering forms a core part of Monaco Telecom's social engagement, with staff dedicating approximately 500 hours annually to digital literacy workshops and community outreach programs. The company organizes over 30 such actions each year, including team-building events and awareness sessions, such as a 2023 workshop on breast cancer screening that engaged 56 female employees in partnership with the Princess Grace Hospital Center.[7] These initiatives often overlap with sustainability efforts, like joint programs with the Prince Albert II Foundation for green education workshops that teach youth about environmental topics through digital tools.[100]

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