FRiENDi, which became one of the first companies to introduce the MVNO model to the Middle East through its operations in Jordan and Oman, will add Virgin Mobile’s South African unit to its portfolio. According to Reuters, the unit will be renamed Virgin Mobile Middle East & Africa with Virgin holding a minority stake.
The move will take FRiENDi’s total number of subscribers to approximately one million with a reported target of five million by 2015. The company is also said to be targeting six more markets in the Middle East, Africa and south Asia within the next four years.
Pending regulatory approval, the deal is expected to be completed within two months.
