Octopus Group, famous for revolutionizing the energy sector, is preparing to enter the UK mobile market. According to The Telegraph, the company plans to launch a mobile virtual network operator (MVNO). This initiative aims to compete with the UK’s largest telecom operators: EE, Virgin Media O2, Vodafone, and Three.
Instead of building its infrastructure, Octopus intends to lease capacity from an existing network. The discussions are reportedly conducted via Fern Trading, Octopus’s telecom investment branch. Fern Trading already has ties to Y Corporation, which maintains a wholesale agreement with Three.
Y Corporation is considering a strategy focusing on eSIM-only services, catering to both consumers and businesses. With Adam Dunlop, formerly of TalkTalk, leading this expansion since January, the initiative is gaining momentum. The brand aims to replicate the success of Octopus Energy, which now supplies over 13 million customers, surpassing British Gas as the top UK energy supplier.
By launching mobile services, Octopus intends to augment its telecommunications offerings. Its current portfolio includes broadband providers like Cuckoo and AllPoints Fibre. Fern Trading has expressed intentions to unify multiple alternative networks to enhance its industry position.
The landscape of the UK mobile sector is witnessing significant changes with the anticipated £15 billion merger between Vodafone and Three. Should Y Corporation continue its collaboration with Three post-merger, it would benefit from the reach of the UK’s largest network.
