AFP, Singapore :
Singapore’s state investment firm Temasek Holdings has invested in Virgin Mobile Latin America (VMLA) in its latest move to extend its global reach into other regions and sectors.
The wealth fund giant confirmed in a statement it was the lead investor in a new round of capital funding for VMLA totalling $86 million, but did not give a breakdown of its share.
“The equity will help launch the Virgin Mobile brand in Mexico in 2014 and Brazil in 2015,” Temasek said in a statement posted on its website on Thursday.
It said the investment would also “fund growth and expansion opportunities as they arise in the region, including the company’s existing operations in Chile and Colombia”.
