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Article: United States: Virgin Mobile USA to take over Helio.
- Article from:
- TendersInfo
- Article date:
- June 25, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shabnam05
While no official announcement has yet been made, the Financial Times is reporting that a source close to the situation has indicated that a tentative agreement has been struck between Virgin Mobile USA and Helio. The deal would have Helio essentially being absorbed within Virgin Mobile USA's larger wireless network.
Virgin Mobile USA and Helio have been struggling to make a larger impression in the US wireless market. Since going public last year, Virgin Mobile has seen it's shares drop over 75% - once worth upwards of $15, Virgin Mobile USA's stock is now trading at record lows. With financials shrouded in scandal, the joint venture ...