Tele2 has sold its French MVNO operations to Virgin Mobile for approximately SEK 575 million ($83 million) on a debt and cash free basis. Completion is expected once all the regulatory papers are ready and that’s expected to be completed in the following months.
Under the deal, Virgin Mobile France will get Tele2 France’s approximately 429,000 customers, which will be added to Virgin Mobile’s base of 1.6 million users.
For the record, Tele2 France was a loss-making operation for Tele2. And in case you’re wondering, Virgin Mobile France is an MVNO formed as a joint venture between Virgin Group and Carphone Warehouse.
[Via: CellularNews]