Tuesday, 7 July 2009

Tesco Mobile Ireland reports losses – Ireland

Tesco Mobile Ireland has reported a loss of EUR 7.3 million (USD 10.18 million) for 2008 (as at 31 December 2008). Despite the losses, o2 and Tesco have decided to provide financial support to the company until at least until 30 June 2010 in order to meet its obligations.

According to John Paul O’Reilly and Geoff Byrne, Directors of Tesco Mobile Ireland, the company is expected to have adequate funding to run its operations for this period.