Acquisition

RNS Number : 8839A

Carphone Warehouse Group PLC

16 October 2009

 



Friday 16 October 2009

Embargo 07:00          

The Carphone Warehouse Group PLC 

Virgin Mobile France to acquire Tele2 Mobile France

Virgin Mobile France, of which Carphone Warehouse Group PLC owns 48.5%, has today agreed to acquire Tele2 France for a cash consideration of €56m on a debt free basis, with approximately 385,000 customers, of which 375,000 customers are post pay. Following the transaction, Virgin Mobile France will have more than 1.6 million customers, of which 60% are post pay customers, consolidating its position as France's largest MVNO and the fourth largest mobile operator. 

The Tele2 France deal marks a major step forward in Virgin Mobile's growth plans in France and will help it progress towards its target of being profitable during 2010 and its ambition of having more than 2 million customers.

The acquisition will allow Virgin Mobile to reduce its operating costs by strengthening its relationship with the network operators, and will also help cut costs and drive major economies of scale. 

The acquisition is conditional on the approval of the French anti-trust authorities.

For Further Information

For analyst and institutional enquiries        

Roger Taylor                                                         07715 170090

Christian Maher                                                    07900 243308

For media enquiries

Anthony Carlisle (Citigate Dewe Rogerson)      07973 611 888

                                                                                 020 7638 9571

Notes to editors

Omer Telecom operates Virgin Mobile and Breizh Mobile in France. Omer Telecom is a joint venture, which is owned by Carphone Warehouse Group PLC, Virgin Mobile and Geoffroy Roux de Bezieux, Chief Executive Officer of Virgin Mobile France, through his Company Financom S.A.S.

Tele2 France's reported operating revenue of approximately €119 million in the year to December 2008 and approximately €62 million in H1 2009.

 

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