Virgin and Carphone Warehouse to sell Virgin Mobile France
The UK’s Virgin Group and mobile phone retailer Carphone Warehouse have today revealed plans to sell their jointly-owned mobile virtual network operator (MVNO), Virgin Mobile France, to cable company Numericable.
Virgin Mobile France will be sold to Numericable for an estimated €325 million, including debt, and the parties involved have now signed a legally binding sale and purchase agreement.
Both Carphone Warehouse and the Virgin Group own a 46% stake in Omer Telecom – Virgin Mobile France’s holding company – with the remaining percentage held by management.
The deal is still subject to approval by administrative authorities, including the French competition authority. Market watchers claim the acquisition forms part of Numericable’s strategy to expand its mobile and cable sectors.
In April this year, Numericable acquired French mobile operator SFR for €17 billion.