Signal Capital Partners to Acquire Cyprus’ Primetel

London-based private equity fund, Signal Capital Partners, to take over Cypriot telecom service provider Primetel following its placement under administration.

Highlights

  • Signal Capital Partners has been a key partner and main financier of Primetel.
  • Long-standing partnership between Signal Capital and Primetel fosters confidence in the telecom company.
  • Primetel remains committed to continuous improvement and steady network investments.

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Signal Capital Partners to Acquire Cyprus' Primetel

London-based private equity fund, Signal Capital Partners, is set to take over the Cypriot telecommunications company, Primetel following the company's placement under administration, according to local press. However, according to an announcement, Signal Capital Partners has been a key partner and main financier of Primetel for the past five years and is committed to actively supporting the company.




Also Read: Cablenet Selects Infovista’s Ativa Solution to Enhance Customer Experience in Cyprus

Signal Capital Funding Cypriot Telco

The announcement said that in recent years, Signal Capital has provided funding for the development of Primetel's new next-generation mobile network, and this support will continue as they believe in the company's capabilities and its dedicated team.

"Primetel remains committed to its strategic objectives of continuous improvement, steady network investment, and the expansion of high-quality services for its subscribers."

Signal Capital Partners to Support Primetel

The active support by Signal Capital Partners is expected to bring renewed stability and growth opportunities for Primetel, ensuring seamless services for its customers.

On July 18, 2023, Primetel was put under administration as it had failed to repay a loan obtained from Signal Capital Partners.

Also Read: Tamares, Grid Telecom to Build Andromeda Subsea System Connecting Greece, Cyprus, and Israel

According to the official website, Primetel is Cyprus's only alternative telecom operator with an independent island-wide, IP-based, fibre optic fixed network infrastructure. Primetel owns and operates a regional network spanning Greece, Cyprus, Europe and Russia, providing city-to-city connectivity, data communications and IP-based services between key European and Middle East markets.

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Telecom Analyst

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

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