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Article: Optus buys Virgin Mobile for $100m.

Article from:
Australasian Business Intelligence
Article date:
January 11, 2006
Copyright

Byline: Colin Kruger

Jan 11, 2006 (The Age - ABIX via COMTEX) -- Australian telco Singtel Optus has announcedit will pay $A100m to acquire the final stakein Virgin Mobile it does not yet own. The payments will be made over the period to 2020to the seller of the 74% interest, VirginGroup. Warren Hardy, CEO of the wholesale

division at Optus, has assured existingVirgin customers they will be unaffected, asVirgin Mobile will continue to be run as adistinct entity and maintain its pricing strategy. Meanwhile, speculation has emergedthat Singaporean parent of Optus, Singapore...

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