Friendi eyes Malaysia MVNO launch later this year.
Dubai-based mobile virtual network operator A Mobile Virtual Network Operator (MVNO) is a company that provides mobile (sometimes called wireless or cellular) telephone service but does not have its own allocation of the radio frequency spectrum nor all of the infrastructure required to provide mobile telephone service. (MVNO), Friendi Group, aims to launch an operation in Malaysia by the end of the year after signing an agreement to form a joint venture with a local partner in the country.
Friendi Group signed an agreement with Malaysian sovereign wealth fund Sovereign wealth fund (SWF) (Sovereign wealth funds) is a fund owned by a state composed of financial assets such as stocks, bonds, property or other financial instruments. , Kumpulan Perangsang Selangor Berhad, as its local MVNO partner in the country.
Friendi, which already runs MVNOs and brand licencing agreements in Oman, Jordan and KSA, will have a majority stake in the Malaysian venture, according to Mikkel Vinter, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Friendi Group.
"The company has been formed, we have secured a licence and we are morning forward. We have a majority stake. With a little bit of luck will launch later this year," Vinter told CommsMEA.
The new venture will be run from a new Friendi Group office in Kuala Lumpar. The operation will be headed by Jonathan Marchbank, a former COO of Virgin Mobile in the USA, an MVNO with more than 5 million customers, according to a statement from Kumpulan Perangsang Selangor Berhad.
The news follows closely from a deal between Friendi Group and Virgin Mobile South Africa Virgin Mobile South Africa is a joint-venture between Sir Richard Branson's Virgin Group and Cell C. Virgin Mobile South Africa launched in 2006. See also
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