Retail chain Tesco Mobile and Mobile network operator Vodafone Hungary have announced plans to launch a new mobile virtual network operator (MVNO) service in the country on 1 March. In a joint statement the two companies said Tesco Mobile Zrt will be a 50:50 owned entity and will be the fourth player in the local market when it launches commercially later this week. Commenting on the launch, Tesco Mobile CEO Peter Reszketo said: ‘Our business strategy is aimed primarily at the customer base of the Tesco retail chain, which already has 1.5 million loyalty cards in circulation in Hungary.’ The Magyar MVNO was established with a core capital of HUF200 million (USD928,721), but additional investments are planned by both owners as the company expands, Reszketo added. At launch the newcomer is offering pre-paid services only along a business model built on the success of other MVNO ventures by Tesco in the UK, Ireland and Slovakia. Post-paid services will likely be added in the future, Reszketo said.
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