CYPRUS: Telecom companies prepare for battle in 2019

While leaving 2018 behind, Cyprus telecom companies are preparing to battle it out for a bigger share of the market next year.

---

Prices, bundles, speed, reliability, introduction of new technologies as well as television content are expected to be the main weapons in the Cyprus telecom’s war to attract new customers.

Telecom firms are planning their strategies for the year ahead while going through significant changes, especially with regards to their shareholder structures, hoping to appear stronger in the market.

Possibly, the most significant development this year was the acquisition of MTN by Monaco Telecom. A move that is believed to be capable of being a gamechanger in the island’s telecom market.

According to Phileleftheros, Monaco Telecom has injected some EUR 49 mln into the Cypriot company. The coming year will show how the company intends to make good on this investment.

Primetel, which will be starting the new year with extra capital, namely the Signal Capital Partners investment fund joining the company, to continue its policy of increasing its market share.

Cablenet is also looking forward to 2019 as the telecom company kicks-off its new venture entering the football broadcasting market after gaining the rights of top teams in the Cypriot championship.

 Cablenet will be backed by the company’s major shareholders, Tunisie Telecom.

Cyta remains the company with the largest market share in Cyprus, although it saw its foothold drop from 76.73% in 2010 to 53.93% in June 2018, according to data released by the Office of the Commissioner of Electronic Communications and Postal Regulation.

The organisation will try to remain at the top, or if possible, to increase its share with Andreas Neocleous recently being appointed as the state-funded telecom company’s new CEO.

Meanwhile Finance Minister Harris Georgiades, while presenting the government’s 2019 budget in Parliament earlier this month, said that the proposal for partial privatization of Cyta will be revisited and efforts to attract a strategic investor will be made.