00:00So probably about four to six weeks ago we actually completed the transaction so
00:05that means that CVC who are actually the biggest private equity fund in Europe
00:10and the fifth biggest in the world they now own 55% of Max Telecom and Jersey
00:15Telecom own 45% now the idea behind the transaction is one of the
00:21challenges on the Isle of Man is scale so you know we are a small population we
00:24have to invest heavily to be able to provide a service to our customers and
00:29there's the same challenge for Jersey so by bringing them together you actually
00:33get bigger scale so in things like procurement and investment in the
00:37network actually becomes a lot more efficient so strategically it's absolutely
00:41perfect fits so over time you have companies will come closer together and
00:46with CVC's backing you know they bring the ability to invest so they have capital
00:51you know they've already talked about how we might invest capital so it really is
00:55about a growth it's about how do we grow this company and how do we bring the
00:59two companies together closer over time yeah that's what it's all about yeah in
01:05the long term what will Max Telecom customers be able to see in terms of
01:08changes and on the other man well first of all they won't see a change in the name
01:12yeah we are Max Telecom we're a Max brand and that's our heritage that won't
01:17change and nor will it in Jersey we always will be Max and that's very very
01:23important so there's no change there but in terms of you know what services well by
01:28bringing two companies together and getting the best things out the two
01:31companies I hope that over time we will see additional services and products by
01:36bringing the two best of the two companies so yeah there'll be changes I
01:39mean it's going to take time these things do but yeah I hope that we'll bring
01:43improved services over a period of time yeah you do often quite see with
01:47acquisitions and mergers that and you know redundancies might happen in the
01:52business is that something that you think might happen or not yeah well we've no plans for
01:56redundancies I mean fundamentally this is about trying to grow the business I
02:01think over time as we reshape the business you always end up with you know
02:05some people are leave and we'll restructure elements but as we grow what
02:09we've typically done over the years is we move people around the business you
02:13know we've got two thriving subsidiary companies that are growing very well one
02:17in IT and managed services one in the internet things you know people that get
02:21the chance to move between you know into those companies but also people might get the
02:25chance to move between the Isle of Man and Jersey so I don't see this as a big
02:29redundancy issue I see there's an opportunity to grow but reshape the
02:33business over time yeah do you think this this acquisition will also help to
02:38convert people from copper to fiber is that sort of the overarching plan not
02:43particularly the the transaction it might be helpful if we need some more
02:48support yeah we're at the point where we've got about two-thirds of people on the
02:52island we've got fiber now but we do need to get the rest onto fiber the plan is to
02:56decommission copper by 2029 typically in these programs the last part of the
03:01program is the hardest what we now try and do is remove all the barriers for
03:05people so that we can continue the momentum to shut down the network the
03:10problem we've got is the network is you know is getting dated getting maintenance
03:15and support for it becomes an increasing challenge and getting parts for it so we
03:18do need to make this happen fiber is a far better proposition proposition the
03:23copper so getting people under fiber for the island is really important yeah
03:27could you please just touch on the home checks that are going to be taken place as
03:30well yeah one of the things that we've noticed over the months and years is that
03:35there are a lot more devices in the home it's a lot more complex in the home now
03:39you've got different systems you've got scar you've got your broadband and we see
03:44that people can struggle with their Wi-Fi quality in the home a lot of the time
03:48it's nothing to do with the broadband you will occasionally have issues with your
03:51router and you might have to reboot it but actually the issues about how
03:54everything is interacting in in the home so we now set up a team there's five
04:00people who will go around in bands and we'll just try and help people optimize
04:03what they've got in their home so that we just get the best experience they can
04:09we've also invested in new technology so that we'll be able to see people's
04:13performance of their network from the island from max telecom so that's another
04:18advance in technology just to make sure everyone gets the best experience I
04:22think it's widely known that actually fiber broadband is the best technology to
04:27deliver broadband but you know these issues in the home we do need to deal
04:32with them and that's why we want to help people get the best experience they can
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