Sprint To Acquire Virgin Mobile

on 07/28/2009, filed in Home > CellPhones

Looks like Virgin Mobile is going to be acquired by Sprint, the third largest cellular operator in the US. Sprint will have to pony up a whopping $83 million in all, where Sprint’s 13.1% stake in Virgin Mobile does play a role in that astronomical amount. In addition, Sprint will also take over Virgin Mobile’s existing $250 million debt at closing. It will be interesting to see how Virgin Mobile’s brand will be affected, if at all. What do you think of this acquisition? [Press Release]

Sprint: Sprint is one of the major wireless carriers in the USA. It uses a mix of CDMA, WiMax and LTE Networks as the backbone of its infrastructure. The company's network is also used by third parties and mobile virtual operators like Boost Mobile, Virgin Mobile, and Assurance Wireless. Sprint has about 55M subscribers.

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