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OPTUS PUSHES SIMPLUS INTO VIRGIN |
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Written by Adam Gosling
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Tuesday, 07 February 2006 |
Optus has announced it plans to merge its existing consumer mobile phone businesses into the newly acquired Virgin Mobile brand.
The Optus owned SIMplus Mobile will remain a separate legal entity, but will operate under the Virgin Mobile brand, the company announced yesterday.
ldquo;VMA has one of the strongest prepaid offerings in the market and SIMplus has strengths in the post paid market through varied sales channels,” said Optus Chief Executive Paul O'Sullivan.
Matt Davey, who has worked for the company for nine years will be Chief Executive of the combined operation. Davey most recently spent nearly a year with SingTel outfit, Globe Telecom in the Philippines. His background is in prepaid and post paid consumer and business markets.
Davey replaces, Virgin’s Jonathan Marchbank “who has decided to pursue a new opportunity”.
SIMplus Managing Director, Keir Preedy will be retained as acting Chief Operating Officer.
As indicated on mobilised in September The deal to sell Virgin Mobile’s virtual network business to its carrier supplier has been in the offing for several months before being consummated back in January (while mobilised was on a break - sorry).
The Virgin Mobile business initially began life in 2000 as a 50:50 joint venture between Optus and Richard Branson’s Virgin Group. In 2002 Virgin increased its shareholding to 74.15%.
At sale the company had more than 500,000 customers and 300 plus staff working in a chain of retail outlets. Optus has previously indicated these channels will remain as the companies are integrated over the coming months.
SingTel paid $30 million in cash for the equity interest and will assume an additional £1.3 million existing debt for the Virgin business.
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