Virgin Mobile’s Australian operation is set to receive over E40 million from the Virgin Group. The company was launched in Australia in October 2000, and the new investment from the parent should help to boost its presence in the market.
Virgin Mobile Australia also reported that over Q1 2002, it registered 50,000 new subscribers. This means it now has total customer numbers of over 200,000.
At present SingTel Optus and the Virgin group own equal shares in Virgin Mobile Australia. Under Virgin’s new plan objectives, it will continue to invest in its Australian arm and SingTel Optus’ share will be reduced to a minimum of 25% over the next five years.