Wireless Bubble?

Looks like things are finally getting out of hand. Charlie emailed me this link from The Guardian, which puts the value of forthcoming IPO of Virgin Mobile UK at around $1.75 billion.

bq. Insiders at Virgin believe that unless the market suffers a considerable correction, Virgin Mobile will float in the summer. Investment banks JP Morgan, Goldman Sachs and Investec, instrumental in the formation of the company in the first place, are rumoured to be the likely flotation advisers and brokers. A public listing of Virgin Mobile, which has nearly 4 million customers in Britain, will give Sir Richard the financial firepower to launch an airline in America, a dream he has held for almost a decade. It will also see T-Mobile, Virgin’s former partner in Virgin Mobile, reap £100m following its out of court settlement with the firm this year.


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