Friday 22 September 2017

Tesco Ireland is to buy out 3 Ireland's 50pc stake of Tesco Mobile Ireland

tesco
tesco
Adrian Weckler

Adrian Weckler

Tesco Ireland is to buy out full ownership of Tesco Mobile Ireland.

Details of any fee have not been disclosed.

Up to now, 3 Ireland owned a 50pc stake in the ‘virtual’ operator business, which has grown to over 6pc of the Irish mobile market.

3 Ireland, which is owned by Hong Kong based Hutchison Whampoa, will continue to provide Tesco Mobile with access to its network for the next three years.

Tesco Mobile is Ireland’s fourth largest mobile operator and the country’s biggest ‘virtual operator’, piggybacking on 3 Ireland’s network.

“The overall agreement between the companies is part of a new strategic plan for Tesco Mobile and is advantageous for all parties,” said a joint statement from the two companies. “Tesco Ireland has reached agreement with Three to buy Three’s 50pc stake of Tesco Mobile Ireland and therefore take full ownership of the business. The completion of the sale is subject to regulatory approval. There will no impact on Tesco Mobile customers.”

Tesco Mobile is one of two Irish operators that is considering the reintroduction of steep roaming fees after Brexit is concluded.

All Irish operators except Tesco Mobile and Meteor say they will not hike mobile fees for Irish people travelling to the UK after Britain leaves the UK.

Online Editors

Also in Business