Penta Investments has decided to sell Mobilking, the virtual mobile operator (MVNO), to Polish telco company MoCoHub Technology Development S.A.
The transaction has been closed and the price of the transaction has not been disclosed.
“We have decided to sell our stake as we see better investment opportunities, where our private equity capital can be allocated at this time. Due to the crisis and high competition, the situation on the Polish telco market has been deteriorating, which affected particularly start-up investments as Mobilking. We believe that the new owner, being an industry player, can provide the company with a long-term perspective,” Martin Danko, spokesman of Penta Investments says.
“There will be no disruption of our services and the new owner has declared to ensure full support for developing the services to existing and new customers of Mobilking,” Jaroslaw Czerka, CEO of Mobilking says.
Mobilking will remain to be run on the Polska Telefonia Cyfrowa (PTC) network and PTC will support the future development of the MVNO.
About Mobilking
- Currently, Mobilking is the largest MVNO in Poland having more than 200 000 activations since its beginning and a strong brand recognition
- Mobilking was established by the Mobile Entertainment Company (MEC), which closed a deal with operator PTC. According to the agreement, Mobilking has been using PTC´s networks to transmit voice and data.
- Mobilking was launched in February 2008. The operator has been primarily aimed at men, offering them telecommunication services and sports/entertainment content.