Jun 04 2012
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Virgin Mobile, Friendi Grp To Merge Assets; Eye MEA Expansion
Monday, Jun 04, 2012
DUBAI (Zawya Dow Jones)--South African Virgin Mobile and Friendi Group , a regional Mobile Virtual Network Operator, said Monday that they will merge their assets in the Middle East and Africa where they will look to expand and target 5 million customers by 2015.
"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 and Africa, or VMMEA, which will develop and operate mobile telecommunications businesses across the region," the two companies said in a joint statement.
The combined group will manage the current operations of Virgin Mobile in South Africa and Friendi Group in Oman, Jordan and Saudi Arabia, creating a regional mobile telecom player with more than 1 million customers, the companies said.
-By Shereen El Gazzar, Dow Jones Newswires; +971 444 61684; Shereen.email@example.com; Twitter: @ZDJnews
(END) Dow Jones Newswires
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