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Friday, February 1, 2013

Roman Abramovich acquires a £70 million stake in Truphone

Virtual mobile network and VoIP service provider Truphone says it’s arranged £75 million of new funding, which will enable it to open a number of new businesses around the world and employ around 500 additional staff members in the next 18 months. The British-based company is also planning a number of new product launches.

Investors in the company include Russian businessman and owner of Chelsea football club Roman Abramovich, whose Minden investment company has acquired a 23.3% stake in Truphone for £70 million.

Truphone enables its customers to use mobile phone services - voice, text and data - at ‘local’ rates in 220 countries worldwide.

Steve Robertson, Chief Executive of Truphone, said “Our business is based on a global model, unique in mobile telecoms. Staying connected is crucial to the way we live our lives – and the demand for connectivity is growing. This funding round will enable us to continue to bring the promise of a mobile phone service without international borders into new markets across the world.”

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Author: The Fonecast
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