Beyond ONE buys VMMEA

Beyond ONE, an investment firm which is part of Priora Management Holding Dubai, has acquired regional MVNO group Virgin Mobile Middle East and Africa (VMMEA). VMMEA has MVNO operations in Saudi Arabia, Oman and Kuwait under the Virgin and FRiENDi brands, plus a licensing arrangement with Du in the United Arab Emirates (UAE) to allow Du to operate its Virgin Mobile UAE sub-brand. Previous shareholders in VMMEA included Virgin Group, Gulf Investment Corporation, ePlanet Ventures, National Technology Enterprises Company, Dolphin International and Global Telecom. UK-based Virgin Group has retained a minority stake in VMMEA and a seat on its board. VMMEA serves around three million customers across its countries of operation.