Vodafone buys MVNO
U.K. mobile giant Vodafone has agreed to acquire Singlepoint, a mobile virtual network operator that is the largest and fastest-growing reseller of Vodafone’s mobile services. Vodafone Group is buying the company from it parent firm, the Caudwell Group, for 405 million pounds ($648 million). Singlepoint is an elder among MVNOs, having been founded by Caudwell Group principal Brian Caudwell in 1993. However, Singlepoint has 1.9 million customers throughout the U.K., and 1.4 million of these users have purchased resold Vodafone services.
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