MVNO Lebara has been sold to private Swiss investment group Palmarium for an undisclosed amount.
The founders of Lebara have left and the MVNO will be led by ex-Virgin Mobile MD Graeme Oxby who was most recently running Liberty Global’s European operation.
Lebara piggybacks on the Vodafone network, and was set up in 2001. It claims to have a customer base of more than 3.5 million subscribers around the world with an emphasis on Sri Lanka and India.
Oxby was managing director of both Virgin Mobile and Three but it is thought unlikely that Lebara will move to another network host.
Lebara is Vodafone’s biggest MVNO and the renewal of the latest extension to a five-year contract has not run its course.
