Investor launches charity network in UK
20 November 2012 | Kavit Majithia
A UK property investor and former tax exile has launched The People’s Operator (TPO), a new mobile network that will give a proportion of its profits to charity.
The new operator will utlilise the network owned by EE, and offer competitive mobile deals and national coverage on a wholesale basis, with a quarter of the profits going to a charitable foundation which will allocate the funds.
An additional 10% will also go on calls, texts or data, and will be directed to a charity, community group or a good cause chosen by the customer.
Initially the group will only offer pay as you go deals, but it will expand into contract deals next year, and the move follows the launch by Age UK, which launched its own mobile network and modifies mobile handsets for the elderly.
Andrew Rosenfeld, the investor behind TPO, said it was one of his first major investments for a number of years, and the plan had taken a year to prepare.
Rosenfeld became a successful property investor as the chief executive on Minerva, but he has not been active in the property market for a number of years, according to the Financial Times.
“I am funding TPO through one of my companies. It is a private investment,” said Rosenfeld. “The People’s Operator represents a fundamental shift in the way commercial utilities support communities and causes. The more profit that is generated, the more we can pass on to deserving parts of society.”