Vodafone Takes "Major Stake" in Australia's Crazy John's Phone Retailer

Vodafone Australia has taken a major stake in the local mobile phone retailer, Crazy John's after buying out the shares held by the wife of Crazy John's founder the late John Ilhan. Financial terms were not disclosed or the size of the stake taken, other than it is "major".

Russell Hewitt, Chief Executive Officer at Vodafone Australia, said: "Vodafone is very pleased to confirm that Crazy John's will become a significant part of Vodafone's ongoing business strategy. Crazy John's is a dynamic company with innovative, high-value products and services that continue to be relevant and appealing to Australian customers."

Patricia Ilhan, wife of Crazy John's founder the late John Ilhan, said she was delighted by today's announcement from Vodafone because it ensures a strong future for Crazy John's and its loyal and valuable staff and customers.

"On a personal level I know that John was excited when he struck a commercial arrangement with Vodafone last year," said Patricia Ilhan. "He knew he had found a dynamic partner for Crazy John's to move forward. John's belief has been vindicated in today's announcement.''

The company has 120 retail outlets across Australia - while Vodafone operates some 200 outlets under its own brandname.

Crazy John's was originally a dealer for Telstra, with 500,000 customers providing close to 10 percent of Telstra's mobile revenue - but legal disputes between the two companies lead to a switch to supporting Vodafone via an MVNO in July 2007.

Posted to the site on 4th September 2008