Virgin Mobile plans to invest USD 300 million in Latin America over the next five years to expand its MVNO business. Virgin Mobile Latin America expects to start offering service in Chile and Colombia this year, before moving into Brazil, Argentina, Mexico and Peru, the company's CEO, Peter Macnee, said in an interview with Bloomberg. Virgin will buy network space from other operators to avoid having to build its own infrastructure, Macnee added. The company has an agreement to purchase network space from Movistar Colombia and has reached a marketing accord with Valorem's Cine Colombia movie-theater unit. Virgin plans to use social media to attract younger customers, the Virgin Mobile executive said. "When you have a high penetration, the challenge for a big network operator is to be all things to all people". "So when they partner with someone like us, we focus on one thing. We focus on the youth.", Macnee said.
