EPIC LTD
FormerlyMTN (2007-2018), Areeba (2004-2007)[1]
TypeSubsidiary
IndustryTelecommunications
Founded2004 (as Areeba)
HeadquartersNicosia, Cyprus
Number of locations
18 (2021)
Area served
Cyprus
OwnerMonaco Telecom (100%)
Number of employees
300 (2021)
Websitewww.epic.com.cy

Epic LTD (previously operating as MTN Cyprus), is a Cyprus based telecommunications services provider owned by Monaco Telecom.[2] It is the second largest mobile network operator in Cyprus by number of subscribers, behind CYTA.[3] In addition to its already established mobile network, the company is a provider of fixed telephony, broadband services and TV.[4] Following its rebranding from MTN to Epic its slogan has been "Great network. Great value".[5]

History

Operating as Areeba (2004–2007)

The company commenced its operations in Cyprus in July 2004 as Areeba (stylised as areeba) after being granted the second mobile telephony licence by the Cyprus Government.[6] In December 2004, Areeba introduced the first 3G network in Cyprus.[7]

Ownership by the MTN Group (2007–2018)

In September 2007 Areeba was rebranded to MTN after its parent company (Investcom LLC) was acquired by the multinational telecommunications company MTN Group.[8] In March 2008, MTN upgraded its 3G network to support HSPA (marketed as 3.5G).[9]

In October 2008, the MTN Group and Amaracos Holdings entered into a partnership with Amaracos acquiring 49% of MTN Cyprus' stock.[10] In turn, MTN Cyprus acquired 100% of Infotel Ltd (Germanos chain of stores) as well as Otenet (Cyprus) Ltd, a fixed telephony and internet provider,[11] thus entering both the fixed telephony and internet service markets respectively for the first time.[12] In February 2013, the MTN Group reached an agreement with Amaracos Holdings to acquire the latter's share capital in MTN Cyprus, resulting in the MTN Group now possessing 100% of the shares in MTN Cyprus.[13]

In March 2015, MTN launched its 4G/LTE network, being the first alongside PrimeTel to introduce the first 4G networks in Cyprus.[14] In May 2017, MTN expanded its services to include subscription based TV by launching MTN TV.[15]

Ownership by Monaco Telecom (2018–Present)

In September 2018, it was announced that Monaco Telecom (operating in the principality of Monaco and a member of NJJ Holding) had acquired the entire share capital of MTN Cyprus from the MTN Group for €260 million.[16] As a part of the deal Monaco Telecom was allowed to continue using the MTN brand name for three years in exchange for a commercial fee.[17]

In November 2018, MTN upgraded its 4G network to support LTE-A (marketed as 4.5G).[18] In May 2019, MTN announced the deployment of wideband audio for voice calls between its subscribers (also known and marketed as HD voice).[19]

In June 2019, Monaco Telecom retired the MTN brand name and renamed the company as Epic (stylised as epic).[20]

In December 2020 Epic deployed VoLTE on its 4G network, becoming the first mobile network in Cyprus to do so.[21] In the same month Epic participated in the Cyprus Government's 5G licence auction, winning a licence enabling it to build and operate a 5G network.[22]

On 9 July 2021 Epic officially launched its 5G network.[23]

Marketshare

According to statistics released by the Office of Electronic Communications & Postal Regulations (OCECPR), as of March 2021, Epic is the second largest mobile network operator in Cyprus, after CYTA (which has a market share of 54.50%), controlling 33.80% of the market.[24]

Awards

Epic has won the following awards:

Awards Won by Epic (Cyprus)
Award Date/Period Awarded by
Best Mobile Network in Test June 2020,[25] March 2021[26] umlaut
Fastest Mobile Network Jan-Jun 2020,[27] Jul-Dec 2020[28] Ookla
Fastest Fixed Internet Apr-Sep 2023[29] Ookla

Mobile Network Frequencies

Frequencies Used on the Epic (Cyprus) Network
Frequency (MHz) Protocol Class
900 GSM-900 2G
1800 GPRS/EDGE 2G
900 UMTS/HSPA+ 3G
2100 UMTS/HSPA+ 3G
800 LTE/LTE-A 4G/4G+
1800 LTE/LTE-A 4G/4G+
2600 LTE/LTE-A 4G/4G+
700 5G NR 5G
3600 5G NR 5G

References

  1. ↑ "Search Results".
  2. ↑ "MTN Sells Cyprus Unit to Monaco Telecom as Pruning Starts". Bloomberg.com. 2018-07-16. Retrieved 2021-04-28.
  3. ↑ "Πρώτη η Cyta κι από κοντά η Epic στην κινητή". Stockwatch - Παράθυρο στην Οικονομία (in Greek). 2021-03-31. Retrieved 2021-04-28.
  4. ↑ "The Company". epic ltd. Retrieved 2021-04-28.
  5. ↑ "MTN Rebrands as epic". www.goldnews.com.cy. Retrieved 2021-04-28.
  6. ↑ "Scancom has six months to operate GSM services in Cyprus". Stockwatch - All about the economy. 2003-10-31. Retrieved 2021-04-28.
  7. ↑ "Η areeba παρουσιάζει δίκτυο 3G". Stockwatch - Παράθυρο στην Οικονομία (in Greek). 2004-12-01. Retrieved 2021-04-30.
  8. ↑ fm (2007-09-25). "Areeba changes name to MTN in Cyprus". Financial Mirror. Retrieved 2021-04-28.
  9. ↑ fm (2008-03-19). "MTN Cyprus launches 3.5G mobile broadband". Financial Mirror. Retrieved 2021-04-30.
  10. ↑ Jones, Candice (2008-10-20). "Expansion opportunity for MTN Cyprus". ITWeb. Retrieved 2021-04-30.
  11. ↑ "CTC: Acquisition of 100% of the shares of OTEnet Telecommunications and OTEnet (Cyprus)". Stockwatch - All about the economy. 2008-05-19. Retrieved 2021-04-30.
  12. ↑ fm (2008-10-17). "MTN aims to become leading telco in Cyprus". Financial Mirror. Retrieved 2021-04-30.
  13. ↑ "MTN's Cyprus stake bought back". www.iol.co.za. Retrieved 2021-04-30.
  14. ↑ "MTN, PrimeTel launch LTE in Cyprus; Cyta to follow suit in summer". www.commsupdate.com. Retrieved 2021-04-30.
  15. ↑ "MTN launches Cyprus TV service". Digital TV Europe. 2017-05-09. Retrieved 2021-04-30.
  16. ↑ "MTN Cyprus sold to Monaco Telecom for €260 m". in-cyprus.philenews.com. Retrieved 2021-04-30.
  17. ↑ fm (2018-09-04). "TELECOMS: MTN Cyprus EUR 260 mln cash sale to Monaco Telecom is over the line". Financial Mirror. Retrieved 2021-04-30.
  18. ↑ "MTN has the Network with the Widest 4.5G Coverage in Cyprus". www.goldnews.com.cy. Retrieved 2021-04-30.
  19. ↑ "Η ΜΤΝ προσφέρει κρυστάλλινο ήχο στις κλήσεις των συνδρομητών της, με High Definition Voice". ΠΟΛΙΤΗΣ (in Greek). 2019-05-15. Retrieved 2021-04-30.
  20. ↑ Staff Reporter. "MTN rebrands as epic | Cyprus Mail". Retrieved 2021-04-30.
  21. ↑ "Epic elevates call experience with innovative VoLTE tech | Cyprus Mail". Retrieved 2021-04-30.
  22. ↑ "Bidding process for 5G completed, first licences in January 2021". Stockwatch - All about the economy. 2020-12-17. Retrieved 2021-04-30.
  23. ↑ "Το Epic 5G ήρθε ξεκλειδώνοντας νέες εμπειρίες". Cyprus Times (in Greek). 2021-07-09. Retrieved 2021-07-09.
  24. ↑ "Πρώτη η Cyta κι από κοντά η Epic στην κινητή". Stockwatch - Παράθυρο στην Οικονομία (in Greek). 2021-03-31. Retrieved 2021-04-30.
  25. ↑ "Epic awarded 'Best Mobile Network in Test' certification | Cyprus Mail". Retrieved 2021-04-30.
  26. ↑ "New award by umlaut places Epic at the top again!". cyprustimes.com. Retrieved 2021-04-30.
  27. ↑ "Ookla named Epic "the fastest mobile network in Cyprus"". Tek Deeps. 2020-09-18. Retrieved 2021-04-30.
  28. ↑ "Η Epic στην κορυφή των δικτύων κινητής της Κύπρου". Kathimerini Cyprus (in Greek). Retrieved 2021-04-30.
  29. ↑ "Fastest Fixed Network". Speedtest.net. Ookla (which owns "Speedtest.net"). 2023-11-07. Retrieved 2023-11-07.
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