Future of PrimeTel uncertain
Prominent Cypriot telecommunications company PrimeTel officially informed the Office of Electronic Communications and Postal Services it has entered administration.
Commissioner of Electronic Communications and Postal Services George Michaelides addressed the situation, stating that they are closely examining the impact on the company’s operations. Additionally, efforts are under way to protect the interests of consumers. He emphasized that the company’s administration does not necessarily indicate its closure. Nevertheless, authorities are diligently working to ensure that consumers have immediate access to services from an alternative provider if such a scenario arises.
Despite the current uncertainty, there is speculation that another telecom provider may take over PrimeTel. The market has noticed the company’s recent efforts to fill vacancies, with six job openings listed, including the position of corporate sales consultant.
Market Watch reports reveal that PrimeTel held a 10.7% market share in fixed telephony during the fourth quarter of 2022. It ranked third, following Cyta with 54.3% and Cablenet with 27%.
