News

Monaco Telecom to acquire MTN Cyprus

London – Paul Hastings LLP, a leading global law firm, announced today that it is advising Monaco Telecom on its agreement with MTN to acquire the entire issued share capital of MTN Cyprus for net sale proceeds of €260 million.  MTN Cyprus is the fastest growing mobile and fixed operator in Cyprus with more than 400,000 customers and 2017 revenues of €123 million.

Monaco Telecom is majority owned by NJJ, the investment vehicle of Xavier Niel, one of France’s most prominent business leaders and an investor in telecommunications and technology ventures for 25 years.

Paul Hastings has previously advised NJJ on its

, the Irish telecommunications and broadband business, and on its

acquisition of a majority stake in Monaco Telecom

, the incumbent telecommunications provider in the Principality of Monaco.

The Paul Hastings team in London was led by partner

 with senior associate

David Prowse

 and associate

Sam Waite

. Tax partner

Arun Birla

 and associate

Hannah Gray,

 privacy partner

Sarah Pearce

, and competition partner

Pierre Kirch

 also advised on the transaction.

Lazard, led by Vincent Le Stradic, were financial advisor to Monaco Telecom; Goodwin Procter (Arnaud Fromion) advised Monaco Telecom on financing; Dr. K. Chrysostomides & Co LLC were Cypriot counsel to Monaco Telecom.

Freshfields Bruckhaus Deringer LLP (Bruce Embley and Aathmika Kularatnam) were legal advisor to MTN; Akira (Andre Sokol) were financial advisor to MTN.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.