Russian magnate Roman Abramovich has plunged £70 million into phone company Truphone, giving him a 23.3 percent stake of the company.
Abramovich is the owner of Chelsea football club and is said to be worth over £8 billion.
Abramovich used his investment cmpany Minden, to take the stake. The investment means that Truphone will take on 500 more staff over the next 18 months, with many jobs in the UK.
The British company was founded by Hames Tagg. The technology lets you use a SIM card to access local voice, data and text services and at local rates in the 220 countries it covers, with local rates available here, in the USA, and Australia.
Truphone intends to open businesses in Hong Kong, Spain, Poland, Germany, and the Netherlands this year.
