Carphone Warehouse 2012 Annual Report Download - page 23
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Overview Business review Governance Financial statements
KEY FACTS
CPW share 47%
Partner Virgin Group
Founded 2006
Virgin Mobile is by far the largest MVNO in the French market,
withareputation for innovation and high quality customerservice.
It has a strong distribution network with over 2,500 third party handset sales points, some 53,000
distribution points for prepay vouchers, asmall but growing portfolio ofVirgin branded stores,
anda well‑established onlineplatform.
MANAGEMENT STRUCTURE
Virgin Mobile France has its own
experiencedmanagement team, led
byChairman Geoffroy Roux de Bezieux
andCEO Pascal Rialland.
Geoffroy joined Carphone Warehouse in 1995,
founding its retail business in France, and was
a member of the Old Carphone Warehouse
board before leaving to set up this venture,
inwhich he is also a minority shareholder.
Pascal joined Virgin Mobile France in 2010
having previously worked at SAP, SFR andXerox
.
A shareholder board meets formally
onaregular basis to agree strategy
andreviewperformance.
FUNDING AND DIVIDENDS
Funding is provided through shareholder
loans which are provided in proportion
toeach party’s shareholding.
When it is available, excess cash is used
topay down thisdebt.
47%
VIRGIN GROUP
The Virgin Group was founded by entrepreneur
Sir Richard Branson, and operates across
arange of sectors globally.
It has become one of the leading exponents
of the MVNO business model worldwide,
having also set up Virgin Mobile operations
in the UK, US, Australia, Canada, India,
South Africa and Latin America.
FULL MVNO
The business has invested in the development of a Full MVNO
infrastructure, which is now fully live.
The Full MVNO infrastructure enables the business to participate
more fully in customer revenue streams, including termination
revenues, and to reduce its operating costs. It also provides
additionalstrategic flexibility by giving the business greater
controlofitscustomers.
The business is targeting to have 50% of its customers
onthisinfrastructure by March 2013.
OVERVIEW
VIRGIN MOBILE FRANCE