Helio Taken by Virgin mobile

Posted by Kallan Dahn Saturday, August 23, 2008

Helio and Virgin Mobile are together at last. Yesterday Virgin Mobile announced that they have completed their acquisition of fellow MVNO Helio. Helio closed stores everywhere except New York. While Helio was busy kicking people to the unemployment line, Virgin Mobile went to bat with their Network Operator. Sprint agreed to reduce the cost per minute of their current deal. Helio, now with a reduced per minute cost might prove to be very profitable for Virgin, especially if Virgin absorbs some of the feature offerings of the former Helio. SK Telecom will get two of its people into the new board of directors, and shares of the newly expanded Virgin Mobile. Earthlink meanwhile, is just content with shares of stock, and cutting their losses on another nearly failed investment.

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