Mobile Phone Network Truphone Raises $118M Led By Russian Tycoon Roman Abramovich, At $473M Valuation

Truphone, a UK-based mobile network that lets its users make free or low-cost calls to other mobile devices, has today announced a large funding injection of ?75 million ($118 million) from a group of investors led by Roman Abramovich, the wealthy Russian owner of Chelsea Football Club, among other things. Abramovich's investment company Minden accounted for ?70 million of this investment, giving it a 23.3% stake in the company at a ?300 million ($473 million) valuation.

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