Investors rally behind Virgin Mobile CEE

Virgin Mobile’s new MVNO, Virgin Mobile Central and Eastern Europe (VMCEE), has attracted €40 million of investment from new backers.

With the goal of bringing affordable mobile broadband to the youth segment in this region, the MVNO is now aiming to increase the size of its Polish operations as well as launch in Turkey.

The new heavyweight investors include Delta Partners Capital, IFC (a member of the World Bank), the European Bank for Reconstruction and Development (EBRD) and CEE Mobile Capital.

Delta chairman Kai-Uwe Ricke, the former CEO of Deutsche Telekom, will join the board of VMCEE. In addition, the former CEO of Telekom Austria and VimpelCom, Boris Nemsic, is joining the board of Virgin Mobile Poland.

“With the support of our new shareholders, we look forward to accelerating our growth in Poland and building the CEE region’s leading MVNO operation,” said VMCEE CEO Alan Gow (formerly CFO and managing director of Virgin Mobile UK.

 

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