Virgin Mobile Usa Archive

  • Sprint finalizes Virgin Mobile USA acquisition, rushes out to snag some cranberry sauce

    Sprint finalizes Virgin Mobile USA acquisition, rushes out to snag some cranberry sauce

    Posted on November 24, 2009 | No Comments
    It's hard to say if these guys were just looking to get this whole thing finalized before the holiday break, but either way, all the requisite i's have been dotted and t's crossed. As of today, Sprint Nextel has acquired Virgin Mobile USA -- a process that began back in late July -- and frankly, there's nothing you can do about it. The move will obviously position Sprint as a bigger player in the prepaid space, but outside of that presumably true assumption, it's tough to say what else the newfound lovers will do together. So, will the Facebook statuses be updated soon as well? Hello?

    Sprint finalizes Virgin Mobile USA acquisition, rushes out to snag some cranberry sauce originally appeared on Engadget on Tue, 24 Nov 2009 00:43:00 EST. Please see our terms for use of feeds.

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  • Sprint puts $483 million on the table for Virgin Mobile USA

    Sprint puts $483 million on the table for Virgin Mobile USA

    Posted on July 28, 2009 | No Comments
    In what looks to be shaping up to be another healthy week for M&A activity, Sprint Nextel is putting more of its focus on the prepaid cell phone service market with a $483 million deal to buy out Virgin Mobile USA. The acquisition, which was announced earlier this morning, calls for Sprint to pay $5.50 in stock for each Virgin Mobile share, a 31 percent premium to the MVNO's closing share price Monday of $4.21. The deal is expected to receive approval either in the fall or in early 2010. Sprint Nextel actually already owned 13.1 percent of Virgin Mobile, which uses the carrier's network to offer service to some 5.2 million subscribers. The deal cancels out Virgin's $248 million in outstanding debts and will unite Sprint's Boost service and Virgin Mobile under the same roof. Sprint says it would keep the Virgin Mobile brand and let Virgin Mobile USA's CEO Dan Schulman, run Sprint's entire prepaid business if and when the deal closes late this year or early next.

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