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Sprint puts $483 million on the table for Virgin Mobile USA
MobileCrunch Jul 28 09In what looks to be shaping up to be another healthy week for M&A activity, Sprint Nextel is putting more of its focus on the prepaid cell phone service market with a $483 million deal to buy out Virgin Mobile USA. The acquisition, which was announced earlier this morning, calls for Sprint to pay $5.50 in stock for each Virgin Mobile share, a 31 percent premium to the MVNO's closing share price Monday of $4.21. The deal is expected to receive approval either in the fall or in early 2010. Sprint Nextel actually already owned 13.1 percent of Virgin Mobile, which uses the carrier's network to offer service to some 5. Full story...
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How timely. After launching a year ago at Disrupt NYC 2011, Tracks is today releasing one of its biggest updates to date.Popular Tags »»
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