Virgin Mobile to spend USD300 million on LatAm operations over the next five years

Virgin Mobile has reportedly outlined plans to invest around USD300 million over the next five years with a view to becoming the largest mobile virtual network operator (MVNO) in Latin America. According to Bloomberg, Virgin Mobile, a unit of UK billionaire Richard Branson’s Virgin Group, has said that it now expects to launch commercially in Chile and Colombia this year, before inaugurating services in Brazil, Argentina, Mexico and Peru. With regards to the Colombian market, the would-be virtual operator has revealed that it has reached an agreement to use the network of Telefonica Moviles Colombia, the country’s second largest cellco by subscribers and a subsidiary of Spanish telecoms giant Telefonica. Further, Virgin Mobile has also reached a marketing accord with Valorem’s Cine Colombia cinema unit, with the deal part of Virgin’s plans to attract subscribers with advertising that emphasises customer service and uses social media to attract a younger demographic.