Virgin Mobile now officially part of Sprint
It took about five months, but Sprint has finally completed its acquisition of Virgin Mobile. There’s nothing major in the announcement, just some formalities and paperwork. The deal is for $483 million, and it involves the retirement of Virgin Mobile’s debt. Virgin’s 5.2 million subscribers should lead Sprint to its first quarter of subscriber growth in over a year.
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What’s next?
This: Look for a Virgin Mobile “Obamaphone” — a free (taxpayer-supported) phone for welfare and food stamp recipients and others on the public dole.
Very classy move.
Not!
Posted on November 27th, 2009 at 5:57 pm