BackLuxembourg / Bratislava, 10 September 2026 – SWAN, a. s. – a Marguerite portfolio company since 2024 – has signed an agreement to acquire 100% of Slovanet, a. s., a major Slovak fixed-line telecommunications operator. Deal completion is subject to customary regulatory approvals.
Headquartered in Bratislava, SWAN provides fixed and mobile telecommunications services to corporate and retail customers nationwide. Founded in 2000 as a B2B fixed operator, it entered the mobile market in 2015 as Slovakia’s fourth mobile operator and, through strong organic growth and strategic acquisitions, has become the country’s largest alternative telecommunications operator.
Slovanet provides internet, television, data and voice services, cloud solutions, and cyber security to households, SMEs, large corporates, and the public sector. It owns fibre, cable and wireless infrastructure and operates in dozens of locations across Slovakia. At the end of 2025, Slovanet served close to 87,000 customers and generated consolidated revenues of more than EUR 70 million.
Together, the two operators will have a materially larger customer base, and fixed and network footprint, enabling more efficient use of both networks, further extension of fibre coverage and increased investment capacity in modern telecommunications technologies.
Marguerite acquired a substantial minority stake in SWAN via its Marguerite III fund through a EUR 50 million capital increase in 2024, to fund an ambitious growth plan focused on the operator’s own infrastructure and on a further wave of consolidation in the Slovak market. As part of the transaction, Marguerite will contribute additional equity in SWAN.
“Acquisitions have been part of SWAN’s growth strategy since the beginning. They have allowed us to expand our infrastructure, bring services to new regions and build a stronger market position. The acquisition of Slovanet will be a natural continuation of this path and one of the company’s most significant milestones. On completion, our customer bases will be combined, the reach of our fixed and optical networks will expand considerably, and our capacity to invest in the further development of services will be reinforced,” said Roman Vavrík, CEO of SWAN.
“When we invested in SWAN, we backed a telecommunications operator with a proven ability to grow both organically and through acquisitions. It also had a clear ambition to build a domestic champion able to compete with international players. The acquisition of Slovanet is a major step towards delivering on that ambition, adding scale in fixed and fibre services,” said Michael Dedieu, Co-CEO of Marguerite.
Marguerite is a pan-European investor in growth infrastructure. Our funds seek out capital-intensive, sustainable investment opportunities with a particular focus on four sectors: (1) Energy & renewables, (2) Digital transformation, (3) Transport, and (4) Circular economy and Water.
Marguerite manages four European infrastructure funds, with our most recent being Marguerite III, and we’ve deployed in excess of €2 billion into projects designed to address the changing infrastructure landscape in Europe by integrating ESG principles and creating positive change for society.
Marguerite III benefits from support from the European Union under the InvestEU Fund.
From our origins in 2010 as an independent infrastructure investment manager backed by the European Investment Bank and the main European national promotional banks, we have evolved into a fund manager dedicated to generating value for investors while integrating robust ESG screening as part of our eligibility criteria and continuously measuring the positive impact of our investments. We are signatories of the Net Zero Asset Managers (NZAM) initiative and commit to aligning our portfolio with net zero emissions pathways by 2050 or sooner.
Our team is based in Luxembourg, Paris and Milan.