Sprint Nextel to Buy Virgin Mobile USA

Jul 28 2009, 8:34am CDT | by Shane McGlaun

Sprint Nextel has been busy with its most popular smartphone having hit stores last month called the Palm Pre. The company announced today that it is buying Virgin Mobile USA for a total equity value of $438 million.

The price includes the value of the 13.1% that Sprint already owns in the company. At closing Sprint says that it will retire all outstanding debt of Virgin Mobile USA, amounting to $248 million. The purchase will strengthen the pre-paid offerings of Sprint the company says.

The Sprint pre-paid offerings will be headed by Virgin Mobile USA CEO Dan Schulman once it closes with Boost Mobile retaining its management team. Stock holders in Virgin Mobile USA will get shares in Sprint worth $5.50 per share.

Via Sprint

where to buy

Buy from Amazon

What Others Say about This

Egypt: Christian/Muslim âIllicit Love Affairâ Sparks Clashes

Tensions between Christians and Muslims continue to escalate in Egypt after rumours of an illicit affair between a Coptic man and Muslim woman led to the eviction of eight Christian families in a village near Alexandria. Footage of the Christian man, Mur ...
Full article at: International Business Times More like this 24 minutes ago

56% of Americans Will Be Away from Their Significant Other on Valentine’s Day, According to New Survey from Rebtel

“For significant others living away from each other on Valentine’s Day, mobile communications are increasingly called upon to bridge the gap,” said Andreas Bernstrom, CEO of Rebtel. Rebtel, the world’s largest mobile VoIP company after Skype, today annou ...
Full article at: Emediawire.com More like this 35 minutes ago

Station robbed as firefighters tackle blaze

HEROES BECOME VICTIMS: Senior firefighters Richard Cooper, left, and Grant Campbell at the Avondale fire station which was burgled while staff were battling a blaze. Heartless thieves burgled an Auckland fire station while firefighters were battling a bl ...
Full article at: Stuff.co.nz More like this 51 minutes ago

Don't miss ...

Mobile Phones

4 Million iPhone 4S sold in First Weekend

Shane McGlaun
Leading our review center, Shane knows technology inside out. His extensive experience in testing computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
Shane can be contacted directly at shane@i4u.com.