Virgin Mobile Latin America confirmed the total sale of its assets in Peru to GPS IPCOM ESPAÑA S.L.U., a manufacturer and global operator of public telephones.
The transaction consists of the sale of 100% of the shares of Virgin Mobile Peru SAC., after just over a year of having started operating as the first Mobile Virtual Network Operator (MVNO) in the country. The closing of the transaction took place in August.
Gallo Barrios Pickmann Abogados, soon to combined with Dentons, acted as advisor to Virgin Mobile Latin America; Julio Gallo (Corporate) and Diego Gómez (Telecommunications) led the team of lawyers.
The departure of Virgin Mobile from Peru responds to the change of strategy of the parent company as well as to regulatory aspects. For its part, GPS IPCOM ESPAÑA is changing its business model worldwide and is looking to set up an MVNO for public telephone users.