Virgin Mobile Files for IPO
Sep 25, 2007, 12:53 PM by (staff)
MVNO Virgin Mobile USA has filed for an initial public offering to raise cash to pay debts and fund operations. It plans to sell 27.5 million shares of stock at $15 to $17 per share and raise $467.5 million. Virgin Mobile is a youth-focused MVNO that is a partnership between Sprint and the Virgin Group. The IPO would reduce both companies' ownership stakes in the MVNO. Virgin had 4.83 million customers as of June 30, and made a profit of $26.5 million in the first half of the year. Virgin will use the money to pay $45 million that it owes Sprint and $150 million it owes to other creditors.
more info at Information Week »
Virgin Mobile USA Relaunches As An iPhone-Only Carrier
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Boost and Virgin Mobile Outline Galaxy S7 Launch
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Sprint Planning to Use Virgin Mobile As Market 'Disrupter'
Sprint intends to relaunch its Virgin Mobile brand later this year and will use the prepaid service to shake things up. "We've put most of our attention in the postpaid handset business, which is where 80% of the profit in this industry comes from," said CEO Marcelo Claure.
Virgin Mobile to Phase Android Out Slowly
Virgin Mobile today announced plans to become an iPhone-only carrier, but the carrier's Android-based handsets won't vanish overnight. Virgin's reseller partners, including Best Buy, Target, and Walmart, will continue to carry and sell Virgin Mobile's lineup of Android handsets along with the prepaid carrier's Data Love service plans, according to Justin Scott, Virgin Mobile's Director of Communications.
Let's ask the guru of Wall St. What say you nextel 18?
For the Love of God, people...Nextel18 is NOT a Wall Street guru!
Please don't base your investment plans on his advice!