Octopus Group, best known for Octopus Energy, is exploring the idea of launching its own mobile network, according to a report from The Sunday Telegraph.
The group has already spoken to major mobile network providers in the UK — including EE, Virgin Media O2, Vodafone, and Three UK — about using their infrastructure. The move is being led by Fern Trading, a company owned by Octopus Group that already has experience in the telecom sector.
Fern Trading owns several broadband companies like Cuckoo, AllPoints Fibre, Jurassic Fibre, Swish Fibre, and Giganet. In 2023, it merged these fibre brands into one entity. It also owns a mobile business called Y Corporation, which currently uses Three UK’s network to offer services. Last year, Y Corp launched a data-only eSIM.
Octopus has hired Adam Dunlop, the former CEO of TalkTalk’s consumer business, to lead this mobile project. The plan could allow Octopus to offer a full bundle of services — energy, mobile, broadband, and possibly financial products — all under one brand.
Octopus Group, founded in 2000, manages around £10 billion for over 63,000 investors. While Octopus Energy now operates separately, Octopus Group is still its largest external shareholder, and the energy brand serves nearly 13 million customers.
