In the middle of March, Virgin Mobile Middle East and Africa (VMMEA) announced that Gulf Investment Corporation (GIC) had agreed to invest US$50 million in the mobile virtual network operator (MVNO); effectively marking VMMEA’s fourth round of funding since establishment in 2007. Comm. spoke to VMMEA founder and CEO Mikkel Vinter and GIC’s Mohamed Eissa about what use the funds would be put to, and what opportunities lie ahead for this business type in the region
Photo from the signing ceremony at the Virgin Group headquarter in London, sitting down form left-to-right: Peter Langkilde (chairman, VMMEA), Mikkel Vinter (CEO and Founder, VMMEA), Shafic Ali (director Principal Investment, GIC) and Peter Stephens (partner and global head for Telecom and Media Investments, Virgin Group). Standing up form left-to-right: Fahad Al-Nusef (vice-president for Technology and Telecom Investments, GIC) and Mohamed Eissa (head of Technology and Telecom Investments, GIC)
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