Monday, 4 June 2012
Dubai, Johannesburg, London: Jun 4, 2012
VIRGIN MOBILE SET FOR MIDDLE EAST AND AFRICA EXPANSION
VIRGIN GROUP AND FRIENDI GROUP ANNOUNCE STRATEGIC PARTNERSHIP DEAL TO MERGE THEIR REGIONAL ASSETS AND ACCELERATE PAN-REGIONAL EXPANSION.
Virgin Group and FRiENDi GROUP today announced the signing of a strategic partnership agreement for the Middle East and Africa. Virgin, a leading international investor and one of the worlds most recognized and respected brands, is the majority shareholder in Virgin Mobile South Africa. FRiENDi GROUP is the leading Mobile Virtual Network Operator (MVNO) group in the Middle East. Subject to local authority clearances, the two groups will merge their regional telecom operations to create a combined entity to be called “Virgin Mobile Middle East & Africa” (VMMEA), which will develop and operate mobile telecommunications businesses across the region.