Overview
- Reports on Monday, led by the Financial Times and echoed by UK outlets, say Schwarz Group agreed a deal with 1GLOBAL and will take a 9.9% stake.
- The agreement would let Lidl run as a mobile virtual network operator, which means it would resell service on existing mobile networks rather than build its own.
- The plans would be offered through the Lidl Plus app, with access tied to having a Lidl Plus account.
- Lidl already offers mobile services in Germany, Austria and Switzerland, and coverage points to a push into the UK and other markets later this year with launch dates still unconfirmed.
- Lidl GB separately confirmed a £600 million plan to open about 50 stores and create around 2,000 UK jobs, and analysts expect extra price pressure on established mobile brands if the service launches.