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Sprint to Buy Virgin Mobile

Michelle Donegan
Wireless Bits
Michelle Donegan
7/28/2009

8:45 AM -- Sprint Corp. (NYSE: S) moved to beef up its pay-as-you-go customer base with an agreement to acquire Virgin Mobile USA Inc. (NYSE: VM) in a deal announced this morning.

Sprint will acquire Virgin Mobile for an equity value of $483 million, which includes Sprint's 13.1 percent share in the service provider. When the deal closes, Sprint will retire all of Virgin Mobile's outstanding debt, which was $248 million net of cash and cash equivalents at the end of March.

Virgin's CEO Dan Schulman will head up Sprint's pay-as-you-go business, which will include the Virgin brand of services as well as Sprint's own Boost Mobile services.

— Michelle Donegan, European Editor, Unstrung

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paolo.franzoi
paolo.franzoi
12/5/2012 | 3:59:48 PM
re: Sprint to Buy Virgin Mobile


 


About potential service or cost changes?  My wife uses VM as she only uses her cell for emergencies and it is around $7 per month for that.


seven


 

Michelle Donegan
Michelle Donegan
12/5/2012 | 3:59:47 PM
re: Sprint to Buy Virgin Mobile


Hi seven,


I haven't seen specific details on changes to service plans. But Sprint said it would keep both the Virgin and Boost brands and operate them as separate, complementary services and continue to serve existing and prospective customers.


Michelle

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