Virgin Mobile announced a partnership to launch itself as an MVNO in Colombia, scheduled for the second half of this year, to Cine Colombia (CINECO), dedicated to entertainment and cinemas. Cineco is a subsidiary of Valorem SA and part of Grupo Santo Domingo (GSD). This business group, founded in the 1970s in the brewing industry, owns Caracol TV and the newspaper “El Espectador”.
Munir Falah, president of Cine Colombia, told “El Espectador” that through the alliance Virgin Mobile aims to "offer a virtual mobile service with fresh options, with which we can differentiate ourselves in the country." The executive also said that the cost of the business reached US$ 40 million.