Virgin Mobile France Buying Tele2 France, Adds 385k Customers
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Carphone Warehouse-controlled Virgin Mobile (NYSE: VM) France announced on Friday it had entered an agreement to buy Tele2 Mobile France from Swedish telco Tele2 for €56 million ($83.6 million; £51.4 million), giving it 385,000 extra customers. VMF, a JV which is 48.5 percent owned by Carphone and operated by Omer Telecom, will have about 1.6 million customers if the deal is passed by French anti-trust authorities.
In the release, Carphone says the debt-free deal will help VMF “progress towards its target of being profitable during 2010 and its ambition of having more than 2 million customers”, as well contribute to cost savings through “economies of scale”.
Carphone’s main concern right now is separating its TalkTalk ISP in the UK from its retail division, now planned for the first half of next year.
Also in France, BT’s troubled Global Services division has sold its “data and information systems migration activities” unit to computer service firm Sodifrance for €1.8 million ($2.6 million). Global Services made a £124 million ($201 million) loss in the three months to July.
Posted In: Mobile, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, Carphone Warehouse, Virgin, Virgin Mobile, Countries, Europe, France
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