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Sprint to Acquire Virgin Mobile USA

Jul 28, 2009, 7:56 AM by Eric M. Zeman
updated Jul 28, 2009, 8:06 AM

Today Sprint Nextel announced that it has agreed to acquire Virgin Mobile USA. Virgin Mobile is an MVNO that uses Sprint's network to provide cellular services. Virgin acquired Helio, another MVNO that used Sprint's network, in 2008. Sprint will pay about $483 million to assume control of Virgin and its 5.2 million customers. Sprint already has a 13.1% stake in the company. Sprint says that Virgin Mobile will be maintained as a separate brand and offered along side its Boost Mobile pre-paid service. The CEO of Virgin Mobile USA will continue to run the Virgin Mobile division, and will report directly to Sprint CEO Dan Hesse. Sprint believes the acquisition will strengthen its pre-paid offerings, reduce operational costs for the two combined companies, increase cash flow, and bolster Sprint's management. The deal is expected to close in late 2009 or early 2010.

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Comments

This forum is closed.

This forum is closed.

JeffdaBeat

Jul 28, 2009, 8:39 AM

Cool, but may be a bit confusing...

Back when I worked for Sprint, there was one thing I loved about my store and that was we only sold Boost. We were still a corporate store, but we just didn't get Virgin Mobile phones in. But the one thing I hated about Sprint was the difference in technology and dealing with Sprint phones and Nextel. Prepaid was one of the easy parts, but it looks like ALL Sprint stores will now have Virgin Mobile. More confusion in plans and technology...oh well.

What's cool is that Sprint will up their subscriber list.

Jayshmay

Do Boost & Virgin customers count as part of Sprints total customer base?

...

Disrespect

It wont be confusing, c'mon these people are not stupid hence thats why they get paid the big bucks and you get paid small bucks.

They will not start integrating until they have re-done everything plus the document says it will keep them as a separ...
(continues)

...

ATnT Nokia

Jul 28, 2009, 10:31 AM

Sprint should consolidate its brands.

Sprint has too many brands. I think they should give Boost the Nextel name, and Virgin Mobile the Sprint name. That way, consumers know Nextel means the iDEN side and Sprint means the CDMA side.

But whatever works for them, I guess. I am just surprised that they are doing this given how they have been struggling. But hey, for 483 million its a cheap buy.

pfs2009

Cheap. For you. 😳

Disrespect

Why would they do that when the Sprint name has been drug through the mud?

Its smarter for them to have their customer think they have a variety, when in actuality its still Sprint. media can ruin a lot for you. Sprints name has been ruined and the...
(continues)

Slammer

I agree that an easier way to distinguish the two networks as a Sprint company should be done. But I also feel that running the two as seperate entities is also crucial in marketing the difference between Prepaid and Postpaid. They don't need another ...
(continues)

Slammer

Jul 28, 2009, 9:53 AM

Now they need to up th ante...

Prepaid CDMA.Prepaid IDEN. Now offer free mobile to mobile voice calling, texting, etc to anyone on these networks and it would be a formidable attraction.

Disrespect

😎

Disrespect

Jul 28, 2009, 9:19 AM

Sprint always seem to have a way

Sprint will not go away 🤣

Thats good to see things like this happening. This should be good for sprint stock and shareholders 😎

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