Virgin Mobile to buy Helio

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News In Brief: Virgin Mobile in the US have announced that they will buy struggling mobile carrier Helio for $39 million, paid in stock, with its South Korean owner – SK Telecom, owning 17% of Virgin Mobile.

Also, Richard Branson’s Virgin Group and SK Telecom will also invest $25 million each to the new combined company. However, there is expected to be no disruption with the service since both are virtual networks, meaning that they borrow mobile infrastructure from other companies – in this case, both are on the Sprint Nextel service.

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