Carphone Warehouse Group PLC
03 April 2006
Monday 3 April 2006
For immediate release
The Carphone Warehouse Group PLC ('Company')
Launch of Virgin Mobile France
The Company has signed a joint venture agreement with Virgin Group Investments
Limited ('Virgin') to operate a nationwide MVNO in France. The MVNO will
operate under the Virgin Mobile brand, using the Orange network. The Company
and Virgin will each own and fund 48.5% of the joint venture, with management
owning and funding 3%. The assets and customers of Omer Telecom, the Company's
existing MVNO operations in France, will be included within the joint venture.
Virgin Mobile will launch today in Paris. The proposition will encompass both
pre-pay and subscription services, and will initially be distributed from almost
1,000 points of sale, including all Phone House and Virgin Megastore outlets.
As part of its media launch, Virgin Mobile will outline its target to recruit
one million customers in the first three years of operation. The likely
financial impact of the new business will be disclosed on 11 April 2006, as part
of the Company's overall annual guidance to investors and analysts.
Geoffroy Roux de Bezieux will become Chairman and Chief Executive of Virgin
Mobile France. As a result, he is stepping down from The Carphone Warehouse
Group Board and his role as Chief Operating Officer, Distribution, with
immediate effect.
For Further Information
The Carphone Warehouse Group PLC
Peregrine Riviere 07909 907 193
This information is provided by RNS
The company news service from the London Stock Exchange
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