The partnership with Signal Capital has been instrumental in funding the development of Primetel's cutting-edge next-generation mobile telecommunications network. Moving forward, Signal Capital will continue to provide financial backing to support the company's ongoing operations and investment requirements. This commitment from Signal Capital underscores their confidence in the capabilities of Primetel and its dedicated workforce.

Emphasizing their vision for the future, Primetel pledges to remain steadfast in its strategic dedication to continuous growth and innovation. The company will continue to make substantial investments in its network infrastructure, ensuring top-notch service delivery. Customers can expect an exceptional experience as Primetel expands its range of high-quality services.

It is noteworthy that Signal Capital manages a substantial portfolio of funds amounting to 2.5 billion euros, primarily focusing on real estate investments with occasional involvement in special investment opportunities, such as the one presented by Primetel.

As of the latest available data (Q4 2022), Primetel holds an impressive 10.7% market share in the fixed telephony sector. The company's position in the market is strong, being the third-largest player after Cyta with 54.3% and Cablenet with 27% market share, respectively. In addition, Primetel boasts a significant market presence in fixed broadband access. The company's market share for mobile telephony stands at 9%, capturing a substantial portion of the contract mobile subscriber base as of December 2022. Furthermore, in the realm of mobile broadband access, Primetel holds an impressive 9.6% market share.

The ongoing situation was also confirmed by George Michaelides, the Commissioner for Electronic Communications and Postal Regulation, during an interview with Cyprus News Agency. He clarified that this is not a liquidation or closure situation.

Mr. Michaelides emphasized that the Regulatory Authority has taken proactive steps to protect consumer interests. They have developed a comprehensive action plan aimed at securing consumer rights during this administration period. In the coming days, the Regulatory Authority plans to meet with the company's new management to address any concerns promptly, as their primary focus is on ensuring that consumers' rights are safeguarded effectively.