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AOL Europe in mobile deal
Posted: 13-Jun-2000 [Source: FT]

[AOL edges its way into the mobile scene with a US$25 million stake in the Mviva European mobile portal.]

By Ben Hunt -- "AOL Europe on Monday announced a strategic alliance with Carphone Warehouse, the European mobile phone retailer, to facilitate the launch of a European mobile internet portal.

"AOL will spend $25m on a 15 per cent stake in the Mviva portal, which will be launched in France, Sweden, Spain, the Netherlands and the UK. AOL will have an option to buy a further 4.9 per cent of Mviva within the next year, at a price which will value Mviva at $700m.

"AOL will also provide content and technical infrastructure for the portal and promote it through its on internet services.

"In return AOL will have its fixed line internet services promoted in Carphone Warehouse stores.

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