Truphone, a UK-based mobile network founded by James Tagg and backed by media groups, has raised £75m ($118m) primarily from Roman Abramovich, owner of Russia-based oil major Sibneft.
Abramovich’s investment vehicle, Minden, has acquired a 23.3% stake in Truphone for £70m, valuing the company at £300m.
Truphone works in 220 countries and is available as a local service in the UK, US and Australia. Truphone said it would use this financing round to open businesses in the Netherlands, Hong Kong,…
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