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 MOBILE TELEPHONY - Crédit Mutuel - CIC increases its stake in NRJ Mobile share capital to 90%
An NRJ Group partner in the creation of NRJ Mobile in 2005, Crédit Mutuel - CIC has acquired an additional 40% stake in NRJ Mobile's share capital, boosting its shareholding to 90%. A mark of confidence in the virtual operator's future, this also represents a further step in the banking group's strategy of teaming up mobile operators and banking and insurance services, while continuing to collaborate with NRJ Group in the development of NRJ Mobile deals. NRJ Group's involvement in the growth of NRJ Mobile will continue, with investment being directed more towards core Group businesses (radio, television and internet).
The first banking network to show an interest in the media and mobile telephony, the Crédit Mutuel - CIC Group partnerered up with NRJ Group in 2005. Its 10% stake in share capital, acquired through its IT subsidiary Euro-Information, was increased to 50% in February 2007, allowing the Group to develop its entire information system and technological prowess in this sector.
By retaining a 10% stake in share capital and conceding use of the NRJ Mobile brand, which it owns, NRJ Group naturally remains a pivotal partner in NRJ Mobile's future, with the subsidiary continuing to reap the rewards of the Group's expertise and its privileged relationship with the youth market and the music industry.
One of the leading French virtual operators
750,000 customers are currently signed up to an NRJ Mobile deal. For one of the France's leading virtual operators, this healthy figure represents just one step in its endeavours to boost market share by offering two complementary product ranges, with the aim of hitting an initial target of 1 million customers:
• Offers advertised under the NRJ Mobile brand are geared towards the youth market and emphasise the NRJ Group's expertise and image, with services centered around youth interests: music, concerts, films and instant messaging.
• Offers retailing under the "C le Mobile" brand target a wider demographic and are available exclusively at 4,500 Crédit Mutuel and CIC outlets. These boast attractive tariffs and high-end services including privileged access to a remote banking portal.
An innovative strategy
The first French banking group to successfully pilot the mobile phone-based contactless payment system with NRJ Mobile, Crédit Mutuel - CIC played a key role in the "Payez mobile" experiment, which brought together the major banking groups and phone operators, including NRJ Mobile. By increasing its stake in NRJ Mobile, the Group demonstrates both its confidence in the future of contactless technologies and its conviction that mobile telephony will be one of the banking media of tomorrow.
Press contacts:
Crédit Mutuel - CIC
Bernard Sadoun Tel.: 03 88 14 72 41 sadounbe@cmcee.creditmutuel.fr
Bruno Brouchiquan Tel.: 01 45 96 92 20 brouchbr@cic.fr
NRJ Group
Virginie Grandclaude Tel.: 01 40 71 40 56 vgrandclaude@nrj.fr
NRJ Mobile
Anne-Carole Coen Tel.: 01 40 71 42 59 accoen@nrj.fr
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