Virgin Mobile Raises Funds for Mexican MVNO Launch

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Virgin Mobile's Latin American subsidiary says that it has raised an additional USD86 million from investors and increased its debt facility to USD41.5 million to include its new Mexican MVNO.

This recent financing brings to over USD140 million the total equity invested in VMLA over the past 3 years.

The proceeds of these financings will be used to launch the Virgin Mobile brand in Mexico in 2014 and Brazil in 2015, and to fund further growth and expansion opportunities as they arise in the region.

VMLA has already launched Virgin Mobile in Chile (2012) and Colombia (2013).

A subsidiary of Temasek, the Singaporean investment company  led the latest equity round.

The funding creates a shareholder group that includes Richard Branson's
Virgin Group; Hermes Growth Partners, founded by Juan Villalonga former
Chairman & CEO of Telefónica; ePlanet Capital and Imb. El Coigue, the holding company of Grupo GTD, a telecom operator in Chile.

This recent financing brings to over USD140 million the total equity invested in VMLA over the past 3 years.

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Tags: virgin mobile  mvno  Mexico 

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