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FINANCIAL NEWS
Virgin Group, Dubai’s FRiENDi ink partnership deal
05 Jun 2012
(MENAFN) Virgin Group announced that as it plans to expand its presence in the Middle East, it inked a partnership deal with Dubai’s FRiENDi Group, reported Arabian Business.
Sir Richard Branson’s firm said that the deal will result in a joint venture called Virgin Mobile Middle East & Africa (VMMEA), a company that will be in charge of developing and managing mobile telecommunications businesses across the MEA region.
It added that the new business will become the base of a mobile telecom player with its clients’ number exceeding 1 million, and reaching over 5 million by 2015.
It also said that VMMEA, which will be based in Dubai, will run Virgin Mobile’s operations in South Africa and FRiENDi Group’s operations in Jordan, Saudi and Oman.
It is worth noting that FRiENDi Group, whose CEO and founder, Mikkel Vinter, is going to lead VMMEA, is a mobile virtual network operator (MVNO).
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