Virgin Mobile to buy Helio from SK Telecom
In a follow up to our earlier reports on the Virgin Mobile and Helio merger, it appears as if talks have come to a close, and a buyout is imminent. According to the UK’s Financial Times, the terms have been agreed upon, and Virgin Mobile/Helio may be making an announcement as early as this week. In return for Helio and it’s roughly 200,000 customers, SK Telecom will be receiving a 20% stake in Virgin Mobile, estimated to be worth $50 million.
The Financial Times also reported that SK will invest further capital into Virgin Mobile USA, which is currently at 5.1 million pre-paid customers. Earlier in the week, Virgin announced an unlimited $79.99 plan; should the buyout announcement happen this week, it could prove to be a very positive week for the company.
[via MobileBurn]
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