Unnamed Suitor Competed with Sprint for Virgin Mobile
Sep 4, 2009, 8:00 AM by Eric M. Zeman
According to documents filed with the SEC, a second company pursued Virgin Mobile USA earlier this year. The firm, only referred to as Company X in the filings, made several bids for Virgin Mobile against Sprint Nextel. Virgin's board of directors decided that PCS licensing issues and Sprint's on-going relationship with Virgin made it a better match. The board also believed Sprint Nextel would block Company X -- called a strategic competitor of Sprint Nextel -- from making the acquisition. Company X withdrew its last bid for Virgin on July 24, and Virgin Mobile USA and Sprint Nextel made the acquisition announcement on July 28. The deal is worth about $483 million.
|i know who it was.||techjunky||
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