Posted on 23-Jan-2006 22:50
| Filed under: News
Optus has acquired 74.15 per cent of Virgin Mobile Australia Pty Limited from the Virgin Group for A$30 million (US$22.6 million), increasing the Optus shareholding in mobile operator to 100 per cent.
At the same time, Virgin Enterprises Limited granted Optus a 15-year licence for ongoing use of the Virgin Mobile brand in Australia. This licence will extend to other telecommunication products and allow the Optus Group to market an increased range of products to consumers using the Virgin brand.
Mr Warren Hardy, Managing Director Optus Wholesale and Satellite, said Virgin Mobile had a unique position in the mobile market and consumers identified with the passionate and fun approach the company has.
Over the coming months, Optus will work with VMA�s management to integrate the company into the Optus Group, part of the Singapore Telecom holding.
Virgin Mobile Australia mobile customers will continue to receive services as usual.