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Wireless

Virgin Mobile gets USD 11 million loan from IFC

Friday 17 August 2012 | 11:21 CET | News
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.

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Categories: Mobile & Wireless
Companies: Virgin Mobile
Countries: Chile
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