Swiss investor Palmarium acquires MVNO Lebara

News Wireless Europe 18 SEP 2017
Swiss investor Palmarium acquires MVNO Lebara

Palmarium, through its subsidiary Vieo, has acquired European MVNO Lebara Group. The founders of Lebara will leave the company. The new leadership team will be led by Graeme Oxby as CEO. Oxby was most recently MD of Liberty Global's European mobile business and previously worked at Virgin Media.

Set up in 2001, Lebara mainly targets travelers, students and the migrant community. Through its 275,000 outlets, Lebara serves a customer base of over 3.5 million. It generated revenues of EUR 573 million in 2016, down 8 percent from the previous year. 

No financial details related to the acquisition have been disclosed. Palmarium is a Swiss private investor.

Categories:

Mobile

Companies:

Lebara

Regions:

Europe

Tags:

Wholesale, M&A buyouts & divestments

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