Virgin Media O2 and Tesco Plc, the owner of Tesco Mobile, have solidified their partnership by signing a 10-year renewal of their 50:50 joint venture.
Celebrating two decades since its inception, Tesco Mobile has now emerged as the United Kingdom’s leading Mobile Virtual Network Operator (MVNO), boasting a customer base exceeding 5.5 million.
The extended joint venture underscores Virgin Media O2’s standing as the preferred network among major mobile providers. The agreement ensures that Tesco Mobile’s vast customer base will continue to enjoy the extensive mobile coverage provided by Virgin Media O2. Notably, 99 percent of the population benefits from the operator’s swift and dependable 4G services, while 5G coverage extends to over half of the country.
Lutz Schuler, CEO of Virgin Media O2, expressed confidence in the ongoing success of the partnership, stating, “We have enjoyed great success with Tesco Mobile over the past 20 years, as a partner and a network provider, and I have no doubt that will continue over the next decade.”
Jason Tarry, Tesco UK CEO, highlighted the synergy between Tesco’s value proposition and the robustness of Virgin Media O2’s network. Tarry affirmed, “We’re proud of our award-winning network, which brings together the great value of Tesco and the strength of Virgin Media O2’s network.”
Jonathan Taylor, CEO at Tesco Mobile, emphasized the combined strength of the partnership, saying, “With the combined power of Virgin Media O2 and Tesco, we’re an MVNO that packs an almighty punch. We’re incredibly proud of the success we’ve achieved over the last 20 years, serving over 5.5 million customers across the UK.”
The joint venture renewal aligns with the companies’ commitment to providing excellent connectivity across the UK. Virgin Media O2’s continuous investment in network infrastructure aims to enhance the mobile experience for customers, ensuring fast and reliable services amid the increasing demand for mobile data.
Tesco Mobile, a joint venture equally owned by Tesco Plc Group and Virgin Media O2 UK Limited, was formerly 50 percent owned by Telefonica UK before the completion of the merger of O2 and Virgin Media on June 1, 2021.
