iD Mobile silent on reports of investor-urged sale

Staff Reporter

April 8, 2024

MVNO iD Mobile has declined to comment on a report in The Sunday Times that parent company Currys, is being pressured by its largest shareholder J O Hambro to sell the Three-hosted operator.

JO Hambro’s UK Equity fund holds 4.5 per cent of Currys’ shares and sent out an investor letter stating, “The pressure will now be on the board to realize shareholder value, with our favored option being the sale of iD Mobile.

iD Mobile is currently valued at around £350 million. The Three-hosted MVNO was launched by Carphone Warehouse in 2015 and became a part of Currys’ operations following the merger of Carphone with Currys.

In January, iD Mobile signed a new multi-year extension with Three. iD Mobile first partnered with Three in 2015 and has claimed to be the fastest-growing post-pay MVNO in the UK, also being the first UK MVNO to launch Wi-Fi calling and VoLTE (voice over LTE calling).

The company has more than 1.5 million customers, up from 800,000 five years ago.

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