Virgin Mobile Latin America (VMLA) launched operations in Chile in April 2012, after receiving regulatory approval from Chile's telecommunications regulator and signing an agreement with Movistar, one of the country's leading mobile network operators. VMLA announced in June of this year its plan to become Latin America's leading mobile virtual network operator (MVNO). Since then, the company has made significant progress towards its goal of beginning commercial operations in many countries. Chile was its first commercial operation in early 2012. Richard Branson commented: "We are excited to have made such good progress towards launching our first mobile business in Latin America in Chile. "This is an exciting project for Virgin and we believe Virgin Mobile Chile customers will be delighted by the services we will be offering them at launch. " “We are very appreciative of Subtel’s (Chile’s Subsecretaría de Telecomunicaciones) prompt approval of our application," said VMLA's chairman Phil Wallace.