Virgin Mobile USA acquired Helio




Worth Reading?

YesNo

+1 [1 votes]


It looks like it’s finally official. Virgin Mobile USA and Helio have reached a deal and the former has completely acquired the latter. SK Telecom and Earthlink, which are Helio shareholders have received 13 million shares of Virgin Mobile USA stock.

All of the regulatory approval were met. The 13 million shares of Virgin Mobile USA Class A common stock are valued at around $38 million. Beyond that, both SK Telecom and Virgin Group will be investing a total of $25 million in Virgin Mobile USA.

The buyout was announced on June 27, is believed to also improve network rates from Sprint. The deal will bring approximately 170,000 new customers from Helio over to Virgin Mobile.

[via Investor Relations at Virgin Mobile]

  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • blogmarks
  • Fark
  • Furl
  • Live
  • Ma.gnolia
  • NewsVine
  • Spurl
  • StumbleUpon
  • TailRank
  • Technorati
  • TwitThis
  • YahooMyWeb
Subscribe via RSS or Email | Read 14 times

Related posts

Leave a Reply

Spam Protection by WP-SpamFree

T-Mobile G1 Accessories
Palm Pre Accessories
iPod Touch Accessories
Advertise with SlashGear
Free Tech Support at SlashGear Forums

Phone Magazine Team