Hogan Lovells Cross-Border Corporate Team Advises Consortium of Investors on Their Investment in Virgin Mobile Central and Eastern Europe

19 September 2014 - A cross-border London and European Hogan Lovells Corporate team has advised a consortium of investors on their equity investment in the mobile virtual network operator (MVNO) Virgin Mobile Central and Eastern Europe (VMCEE).  The consortium comprised the European Bank for Reconstruction and Development (EBRD), CEE Mobile Capital LLC (spearheaded by Dick Kiphart of KGC Capital LLC), funds advised by Delta Partners Capital Limited, and the International Financial Corporation (IFC) – a member of the World Bank Group.

The four investors will equally contribute a total of €40 million of growth capital to develop VMCEE’s operations in Poland and to support the launch of operations in Turkey. The financing will enable a roll-out of mobile broadband products that are unique and affordable. These will target young people and the lower-income population in the region, facilitating the digital inclusion of these underserved market segments.

The MVNO model provides mobile phone services using the existing infrastructure of established mobile network operators instead of building a new network.

Hogan Lovells cross-border Corporate team was led by London partner Guy Potel, and included Amsterdam partner Johannes Buntjer and Warsaw partner Marek Wroniak.

Guy Potel noted:
"We were delighted to advise both existing and new clients within the consortium and help them finance the growth of this innovative mobile business in Poland and Turkey."

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