Tesco Mobile breaches £600m debt facility after reporting failure Telecoms The UK’s biggest virtual mobile network operator has breached the terms of its debt facility after a reporting shortfall, City AM can reveal. Tesco Mobile, which has more than 5m customers and is owned by Virgin Media O2 and Tesco, identified a breach in covenants in the funding agreement it has with the Royal Bank [...]
Tesco ‘in talks’ to exit eastern Europe Retail Tesco is reportedly considering cutting loose its business in central and eastern Europe in a move to end its expansion outside of the UK and Ireland. The supermarket giant has hired bankers to explore the possibility of a sale of its operations in Hungary, the Czech Republic and Slovakia, according to the Financial Times. A [...]
UK telecom giants sign new pact to block scam calls as AI drives fraud Tech Britain’s biggest mobile networks have agreed to overhaul their systems to stop scammers using fake numbers to impersonate banks and government departments. As ministers seek to stem the growing tide of AI-driven fraud, BT, EE, Vodafone, Three, Virgin Media O2, Sky, TalkTalk and Tesco Mobile have signed a new telecoms charter with the Home Office. [...]
Tesco Mobile returns to profit thanks to Samsung Galaxy September 9, 2025 Tesco Mobile returned to profit thanks to Brits’ demand for premiums handsets such as the Samsung Galaxy S24 series, it has been revealed. The provider, which is a joint venture between the supermarket giant and Virgin Media 02, has posted a pre-tax profit of £1.2m for 2024, new accounts filed with Companies House show. The [...]
Monzo to follow Revolut and Klarna with launch of mobile service August 19, 2025 Monzo has become the latest fintech darling to expand its lifestyle reach with the firm exploring the development of mobile phone services. The London-based firm is looking to offer a Monzo-branded service to its over 12 million in account holders. The service would follow rival Revolut issuing plans in April to enter the mobile market [...]
Tesco: Supermarket giant widens market share amid price war June 12, 2025 Supermarket juggernaut Tesco delivered an upbeat trading statement for the first three months of the year as the price war in the competitive UK grocery market rumbled on. Food sales at the grocer were up 5.9 per cent year-on-year led by a strong performance in fresh food. Meanwhile, non-food sales climbed 6.2 per cent after [...]
Tesco to cut 400 jobs as it moves to ‘more efficient’ working January 29, 2025 Tesco has announced plans to cut more than 400 jobs in a bid to improve efficiency at the grocer, following in the footsteps of Sainsbury’s, Asda and Morrisons. The supermarket giant said that the “more competitive than ever” market means it must “work hard… to offer our customers unrivalled value”. “This means always being open [...]
Tesco Mobile in the red despite sales passing £1bn October 1, 2024 Tesco Mobile fell into the red despite its sales passing the £1bn mark during its latest financial year, it has been revealed. The provider, which is a joint venture between the supermarket giant and Virgin Media 02, has reported a pre-tax loss of £449,000 for 2023, according to newly-filed accounts with Companies House. The loss [...]