Virgin Mobile USA to Buy Helio

posted Jun 25, 2008, 7:42 AM   by Eric M. Zeman
updated Jun 25, 2008, 7:50 AM

Updated: altered title

According to sources cited by Reuters, Virgin Mobile USA has agreed to purchase Helio from SK Telecom for an unknown sum. The deal is not final, but the two companies have agreed to loose terms. Virgin Mobile USA would purchase the 69% of Helio that SK Telecom owns, but no word was available on whether or not Earthlink will sell its share of Helio as well. Earthlink has a 28% stake in Helio. Under the initial terms of the agreement, SK Telecom would agree to invest a nominal amount of money in Helio once Virgin Mobile USA takes it over. Both Helio and Virgin Mobile USA have struggled to succeed. Combining the two wireless providers could prove beneficial to the merged entity.

more info at Reuters »

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