Tesco mobile take-up at 250,000

TESCO mobile, the newest virtual mobile phone network, has signed up 250,000 customers since it was launched in September last year.

It said today that this had beaten its own internal forecasts for the 50-50 joint venture between it and O2.

Andy Dewhurst, chief executive of Tesco telecoms, said: 'We are delighted with this achevement as it shows we are giving customers something new and appealing.

'People trust the Tesco brand and we are confident that we will continue to grow rapidly and attract many new customers.'

Today's news places Tesco second only to Virgin Mobile in terms of virtual networks in Britain.

Sir Richard Branson's network, which is run with Tmobile, was launched in November 1999 and broke through the four million customers mark last month. It is expected to be floated on the stock market later this year with an estimated value of £1bn.

Tesco sells its own branded, pre-paid service on a variety of handsets through its stores and online. It already held a 12% UK market share for vouchers and e-top up for other networks.

O2's chief financial officer Matthew Kelly said: 'We are very pleased with the success of Tesco mobile.

'Tesco stores and its online presence have proven to be very strong retail channels and the customers that Tesco attracts perfectly complement those that O2 targets.'

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