Citing the need channel its investments into more lucrative opportunities, Central European investment firm Penta Investments has announced the sale of Mobilking. The deal sends the virtual mobile operator to Polish telecom company MoCoHub Technology Development S.A. for an undisclosed sum. Mobilking will continue to operate on the Polska Telefonia Cyfrowa (PTC) network and expects no disruption in services under the new ownership.
In addition, the new owners have promised to continue development of Mobilking and its services.
Mobilking (www.mobilking.pl)
Mobilking is a Polish mobile virtual network operator (MVNO) established in February 2008. Originally started by the Mobile Entertainment Company, Mobilking focuses it services mainly at the male audience, offering them sports and entertainment content in addition to standard telecom services.
Mobilking has a working agreement with PTC to offer both voice and data services using their network. The company claims more than 200,000 new activations since its inception and has strong brand recognition in Poland.
The company established a nationwide distribution of 25,000 point-of-sale locations by late 2008 including supermarkets, convenience stores, newsstands and mobile phone retailers.
Penta Investments (www.pentainvestments.com)
Established in 1994, Penta is an equity and investment company operating in Europe and Russia. The Czech-Slovak firm is involved in acquisition of large medium-sized and companies, real estate development, leveraged buy-outs and buy-ins, and restructuring projects. Penta operates in many business sectors including energy, entertainment, health care, machine engineering, metallurgy, private banking, real estate, retail, telecommunications, and transportation.
29/05/2009
Central & Eastern Europe, Exit, Poland, Private Equity News, Telecoms & Media