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General

Virgin to pull out of Singapore

Tuesday 9 July 2002 | 00:00 CET | News
SINGTEL and Virgin Group on Monday said that they have ended their Virgin Mobile Singapore joint venture, citing a saturated local market. They will however continue with their Australian joint venture. In a statement, the two said, "Both the Virgin Group and its partner SingTel view the market too saturated to sustain an otherwise successful virtual network operator model. The subscriber net growth for mobile phone operators in the Singapore market has not been sufficient to sustain a new entrant in this mature market place." Concerns started to surface in March when Lucas Chow of

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Categories: General
Countries: Singapore
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