Blog Post

Virgin Mobile Acquiring MVNO Helio For A Paltry $39M In Equity; Gets $50M Cash Investment

As we have been reporting since the start of these talks, Virgin Mobile (NYSE: VM) has announced the acquisition of troubled MVNO Helio. The acquisition will cost Virgin Mobile a ridiculously low price of $39 million paid in limited partnership units equivalent to 13 million of its shares, currently valued at $2.99. In addition, the company will take on a fresh $50 million of investments from Virgin Group and SK Telecom (NYSE: SKM) at the equivalent of $8.50 per share. Release. Full coverage at our sister site mocoNews.net.