VMO2 and Tesco renew Tesco Mobile joint venture

Virgin Media O2 and Tesco, owners of Tesco Mobile, have signed a 10-year renewal of their 50:50 joint venture.

Tesco Mobile was formed 20 years ago and has grown to be the UK’s largest mobile virtual network operator (MVNO), with more than 5.5 million customers.

Lutz Schüler, CEO, Virgin Media O2, commented, “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, CEO, Tesco UK, said, “This renewal will ensure that our customers can continue to benefit from excellent connectivity across the UK, while enjoying all the benefits of supermarket mobile, including exclusive deals with Clubcard Prices.”

Jonathan Taylor, CEO, Tesco Mobile, added, “With the combined power of Virgin Media O2 and Tesco we’re an MVNO which packs an almighty punch. We’re incredibly proud of the success we’ve achieved over the last 20 years, we’ve gone from strength to strength and now serve over 5.5 million customers across the UK.

“We’re looking forward to unlocking further opportunities with our partners to drive future growth and continue to offer our customers the best value, helpful propositions and award-winning service.”

Tesco Mobile is equally by Tesco Group and Virgin Media O2 UK. The company was 50 per cent owned by Telefónica UK prior to the completion of the merger of O2 and Virgin Media in June 2021.