Virgin Media O2 (VMO2) and retailer Tesco agreed to extend a joint venture agreement for MVNO Tesco Mobile for another ten years, renewing a partnership already in place for two decades.

VMO2 stated the agreement reaffirmed its position as the network of choice among larger mobile providers.

The partnership renewal means Tesco Mobile customers will “continue to benefit from VMO2’s” connectivity, with the operator stating its 4G network covers 99 per cent of the UK population and 5G “now available across more than half of the country”.  

Tesco Mobile is owned equally by VMO2 and Tesco.

Prior to Virgin Media and O2’s merger in 2021, Telefonica UK, which partially owns VMO2, had a 50 per cent stake in Tesco Mobile.  

“With demand for mobile data greater than ever, we’re continuing to invest heavily in our network to give our customers, and those of other providers who use our connectivity, an even better experience with the fast and reliable mobile services they expect and rely on”, VMO2 CEO Lutz Schuler said.

Tesco Mobile claims it has more than 5.5 million customers today.

In 2015, the retailer explored a sale of its stake in the MVNO to reduce a debt load which stood at £22 billion, however a deal did not materialise.