Release of 01.07.2014
- mobilkom Liechtenstein and Telecom Liechtenstein merge to create a comprehensive provider of fixed line, mobile communications services, Internet and TV in Liechtenstein
- The new company "Telecom Liechtenstein" will pursue ambitious growth plans in Liechtenstein and become a strong partner for globally operating Lichtenstein-based corporations
- As a member of the Telekom Austria Group, Telecom Liechtenstein will have access to the global network of the Group moving forward
- The new company will achieve total annual revenues of EUR 41 million and will have roughly 49,000 customers and 91 employees;
- The new CEO of the company will be Mathias Maierhofer
The Telekom Austria Group signed a formal partnership agreement with Telecom Liechtenstein to create a new convergent market leader. Under the brand name "Telecom Liechtenstein", the new company will offer bundled products from one single source, combining fixed line, mobile communications, Internet and TV services. Therefore, it will be in a position to pursue its ambitious growth plans and address both the residential and business customer segments with attractive solutions.
"The merger of these two companies marks a further step forward in the implementation of our convergence strategy," said Hannes Ametsreiter, CEO Telekom Austria Group and A1."Telecom Liechtenstein is an ideal partner for us and together we will be able to offer Liechtenstein's residential customers all products from one single source, while at the same time supporting the successful Lichtenstein-based corporations on a global level."
Under the terms of the merger agreement and subject to prior approval by the competent authorities, mobilkom Liechtenstein will merge with Telecom Liechtenstein. The company merger will be a non-cash transaction, with the Telekom Austria Group and the Principality of Liechtenstein holding a stake of 24.9 % and 75.1 % in Telecom Liechtenstein respectively. The Telekom Austria Group will have corresponding participation rights and will also appoint the Vice Chairman of the Supervisory Board.
Markus Willi, Chairman of the Supervisory Board of Telecom Liechtenstein said about this partnership: "The partnership with mobilkom Liechtenstein is a logical next step for the further development of Telecom Liechtenstein. Together, we will be in a better position to meet the needs of both our residential and business customers. In addition, we are delighted to be able to fill the CEO position with an excellent manager such as Mathias Maierhofer, who is the currently Managing Director of mobilkom Liechtenstein."
As a member of the Telekom Austria Group, Telecom Liechtenstein will be able to further consolidate its positioning as a strong partner of the globally operating Liechtenstein-based corporations, while at the same time taking advantage of the global network of the Telekom Austria Group as a full-fledged business partner. Pursuant to the merger agreement, Telecom Liechtenstein will benefit from the Telekom Austria Group's roaming contracts and purchasing conditions, gaining access to the Group's latest technologies. Furthermore, vocational training programs for the workforce will also be put in place in a joint effort.
The newly merged company will have a workforce of 91 employees and, with total annual revenues of approximately CHF 50 million (EUR 41 million), it will be the clear convergent market leader in Liechtenstein. Following the merger, the customer base will amount to 49,000 subscribers.