MVNO Enigma sold by founder to enigmatic new investor

Michael Euthymius, founder of Enigma Systems, a would-be mobile virtual network operator (MVNO), which was poised to inaugurate commercial services in Romania this year, has confirmed to Ziarul Financiar (ZF) that he has sold the company to an anonymous investor. The sale was not believed to be financially motivated, and ZF points to rumours of disagreements with mobile network operators over access and interconnection. On the company’s website, launched late last year, Enigma suggested that it sought to target underserved or niche markets, rather than simply ‘selling the same thing in a different box’.