NEWS: Sprint pays $483m for a bit of Virgin territory

Sprint has snapped up Virgin Mobile USA, folding the brand into its
own in exchange for stock that values the operation at $483m.

Not that Sprint will have to raise quite that much: the operator
already holds 13.1 per cent of Virgin Mobile USA, as well as being
the network on which the MVNO is hosted. Sprint also runs the Boost
Mobile brand, which up until now was a competitor of Virgin Mobile.

Virgin Mobile USA has well over five million subscribers, and has
been making money. Sprint reckons that once the deal is completed, it
will be able to settle the debts and use the customer base to
increase its own prepaid operations.

MORE: <http://www.theregister.co.uk/2009/07/28/virgin_mobile_sprint/>

--
Best regards,
John <http:/navasgroup.com>

If the iPhone is really so impressive,
why do iFans keep making excuses for it?

John Navas wrote:
> Sprint has snapped up Virgin Mobile USA, folding the brand into its
> own in exchange for stock that values the operation at $483m.
>
> Not that Sprint will have to raise quite that much: the operator
> already holds 13.1 per cent of Virgin Mobile USA, as well as being
> the network on which the MVNO is hosted. Sprint also runs the Boost
> Mobile brand, which up until now was a competitor of Virgin Mobile.
>
> Virgin Mobile USA has well over five million subscribers, and has
> been making money. Sprint reckons that once the deal is completed, it
> will be able to settle the debts and use the customer base to
> increase its own prepaid operations.
>
> MORE: <http://www.theregister.co.uk/2009/07/28/virgin_mobile_sprint/>
>


Same day Sir OPM IPOs pie-in-the-sky Virgin Galactic to Abu Dhabi. LOL.