Virgin Mobile gets USD 11 million loan from IFC

News Wireless Chile 17 AUG 2012
Virgin Mobile gets USD 11 million loan from IFC
Virgin Mobile Latin America has signed an agreement with investment fund IFC, part of the World Bank Group, for an investment in Virgin Mobile Chile. The agreement provides a strategic loan worth USD 11 million to the company, and will permit Virgin Mobile Chile to accelerate its entry into the local mobile telephony market. Virgin Mobile Chile is the first company in Latin America of the Virgin Group, and since its arrival on the Chilean market four months ago, has managed to sign up over 60,000 customers. Future launches are planned in Colombia in 2012 and later in Brazil.

Categories:

Mobile

Companies:

Virgin Mobile

Countries:

Chile

Tags:

Voice services, Financial funding

Related Articles

CHILE 19 DEC 2012

Virgin Mobile Chile tops 120,000 subs in first 6 months

Chilean MVNO Virgin Mobile has attracted over 120,000 subscribers in the first six months of operation on the local market. Virgin Mobile launched its MVNO in Chile in April this year, mainly targeting the young customer segment. Chile is the first market for Virgin in Latin America, but the company plans to expand operations soon to Colombia and Brazil.

COLOMBIA 19 DEC 2012

IFC invests USD 14 mln in Virgin Mobile Colombia

IFC, a member of the World Bank Group, is investing up to USD 14 million in Virgin Mobile Colombia to accelerate the company's entry into the country's telecommunications market, boost competition, and expand access to voice and broadband services.

CHILE 8 OKT 2012

Virgin Mobile reshuffles Chile executive team

Virgin Mobile has revamped the executive team at its Chile MVNO unit. Virgin Mobile Chile launched operations on the local market in April this year. Seven executives left the company, including marketing director Matias Wolff, Economia y Negocios reports. Virgin Mobile Chile currently has 60 employees and does not plan any lay-offs, the company said. Virgin Mobile Chile serves around 90,000 mobile customers, mainly using prepay services.

Just In

15:09

Bell commits CAD 10 mln to mental health projects across Canada

15:04

Vodafone deploys Cujo AI technology on European broadband networks

14:52

Shentel completes FTTH network upgrade in Buchanan, Virginia

14:48

ITVX reaches 3 billion streams so far in 2026

Commentary

24 SEP 13:37

What is KPN's response to the brand expansion at Odido and VodafoneZiggo?

8 SEP 10:16

Odido matches KPN and VodafoneZiggo on cash flow margin, but growth remains limited

11 AUG 10:49

Can Ziggo Group creation improve visibility for the Dutch market?

2 JUL 11:26

Canal Plus misses chance to strengthen Dutch business, time for exit?

Background

4 OKT 23:20

The week in telecom: FTTH sparks UK competition, AI coming to telco bundles and Samsung raises prices

3 OKT 18:20

Belgian Weekly - Week 40

3 OKT 18:04

German Weekly - 40

3 OKT 07:00

Netherlands Weekly - 40

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.