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Fridman's L1 invests USD 50 million in FreedomPop

Tuesday 30 August 2016 | 09:07 CET | News
LetterOne (L1), the international business of Russian investor Mikhail Fridman, is investing in FreedomPop, the US-based MVNO. L1 said it received clearance from the Committee on Foreign Investment in the United States (CFIUS) to complete its USD 50 million investment in FreedomPop. The mobile provider announced the investment round earlier this year, saying it would use the money to fuel its global expansion. FreedomPop, which offers a basic free mobile plans and bigger paid plans, launched in the UK and Spain this year and plans to open an additional eight markets by the end of next year.

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Categories: Mobile & Wireless
Companies: Axiata / Free Mobile / Intel / L1 / Turkcell / Vimpelcom
Countries: World
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