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Virgin Mobile USA In Merger Talks With Helio; Other Options Still Being Considered

http://www.moconews.net/ entry/ 419-virgin-mobile-usa-in-merger-talks-with-helio-o...

Virgin Mobile USA In Merger Talks With Helio; Other Options Still Being Considered By Rafat Ali - Thu 08 May 2008 11:30 AM PST Virgin Mobile USA (NYSE: VM), the MVNO which just reported its Q1 earnings earlier this week, is in talks with the much smaller and troubled MVNO Helio, we have learned, even as other PE and strategic players are still circling both the companies. Helio is now controlled by SK Telecom (NYSE: SKM), after Earthlink (NSDQ: ELNK) stopped making further investments, and has been looking at options to either exit or grow.

121 days ago

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Virgin Mobile looking to merge with Helio?
http://www.engadget.com/2008/05/08/virgin-mobile-looking-to-...
121 days ago in Engadget · Authority: 22,110

Virgin Mobile looking to merge with Helio? by Nilay Patel, posted May 8th 2008 at 2:56PM Times haven't been so great at Helio, but it looks like the troubled MVNO could be snapped up by Virgin Mobile. mocoNews did a little digging after Virgin's recent
Virgin Mobile USA and Helio in merger talks?
http://www.news.com/8301-10784_3-9940220-7.html?part=rss&tag...
120 days ago in Tech news blog - CNET News.com · Authority: 5

Virtual cell phone operators Virgin Mobile USA and Helio are rumored to be in merger talks, a move that could bring a lot of benefits to both companies. The tie-up between the two MVNOs, or mobile virtual network operators, was first reported Thursday
Virgin Mobile looking to merge with Helio?
http://www.engadgetmobile.com/2008/05/08/virgin-mobile-looki...
121 days ago in Engadget Mobile · Authority: 2,319

Virgin Mobile looking to merge with Helio? by Nilay Patel, posted May 8th 2008 at 2:56PM Times haven't been so great at Helio, but it looks like the troubled MVNO could be snapped up by Virgin Mobile. mocoNews did a little digging after Virgin's recent
Rumor that wont die: Virgin Mobile to bid for Helio to make best MVNO ever?
http://www.crunchgear.com/2008/05/08/rumor-that-wont-die-vir...
121 days ago in CrunchGear · Authority: 3,749

Weve heard weirder rumors about the future of Helio, our favorite MVNO, but this ones got some interesting aspects to it. The buzz is that Virgin Mobile is looking to pick up Helio and merge the services, and in some ways the idea makes sense. Virgin is
Virgin Mobile USA In Merger Talks With Helio; Other Options Still Being Considered
http://www.paidcontent.org/entry/419-virgin-mobile-usa-in-me...
121 days ago in paidContent.org · Authority: 2,451

Virgin Mobile USA In Merger Talks With Helio; Other Options Still Being Considered By Rafat Ali - Thu 08 May 2008 11:35 AM PST From our sister site MocoNews: Virgin Mobile USA (NYSE: VM), the MVNO which just reported its Q1 earnings earlier this week, is
Why A Virgin Mobile-Helio Deal Makes Sense
http://www.alleyinsider.com/2008/5/why_a_virgin_mobile_helio...
121 days ago in Silicon Alley Insider · Authority: 4,505

"Virtual" mobile carriers Virgin Mobile USA and Helio each have something the other doesn't: Helio has cool phones and high-end subscribers happy to pay $85 a month on cellphone service, and Virgin Mobile has a real business, where it has more
BREAKING: Virgin Mobile Acquiring MVNO Helio For A Paltry $39M In Equity; Gets $50M Cash Investment
http://www.paidcontent.co.uk/entry/419-breaking-virgin-mobil...
71 days ago in paidContent:UK · Authority: 256

BREAKING: Virgin Mobile Acquiring MVNO Helio For A Paltry $39M In Equity; Gets $50M Cash Investment By Joseph Weisenthal - Fri 27 Jun 2008 10:08 AM PST As we have been reporting since the start of these talks, Virgin Mobile USA (NYSE: VM) has finally announced the acquisition of troubled MVNO Helio. We originally broke the news of talks between the two companies back in May. The acquisition will cost Virgin Mobile a paltry $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 British parent Virgin Group and SK Telecom (NYSE: SKM) ($25 million from each) at a price of $8.50 per share. VMUSA intends to use the proceeds from these strategic investments by SK Telecom and Virgin Group to pay down a portion of its existing senior secured loan. SKT and Virgin Group have also agreed to provide an additional $35 million and $25 million, respectively, to increase VMUSA’s existing revolving debt facility, which will support the company’s ongoing growth. Full coverage at our sister site mocoNews.net… Posted in: Companies, Virgin Media, Mobile, Money, M&A Tags: helio Social Web E-mail del.icio.us Digg Furl Netscape Yahoo! My Web Technorati Google Bookmarks Newsvine BlinkList reddit Blogmarks ma.gnolia Windows Live Tailrank Mister Wong StumbleUpon
Virgin Mobile looking to merge with Helio?
http://www.intechnews.com/2008/05/14/virgin-mobile-looking-t...
115 days ago in tech gadget news blog · Authority: 15

Virgin Mobile looking to merge with Helio? Posted by: admin in Technology News Virgin Mobile looking to merge with Helio? Filed under: Cellphones, Wireless Times haven’t been so great at Helio, but it looks like the troubled MVNO could be snapped up by Virgin Mobile. mocoNews did a little digging after Virgin’s recent Q1 conference call, and says that the two companies are currently in merger talks. Since both companies use Sprint’s network, the tech would be compatible, and the deal would give SK Telecom a way to keep Helio going as it tries to gain a foothold in the US market. Nothing’s set in stone yet and the two companies aren’t talking, but we’ll definitely keep an eye on this one. Read Share This
Sprint: Hard Times
http://www.dailywireless.org/2008/05/13/7753/
116 days ago in dailywireless.org · Authority: 257

Sprint, the nation’s third-largest cell-phone company, said its customer base shrank by more than 1 million during the first three months of 2008. Even worse, those customers who haven’t left are spending less each month. All told, the first-quarter results came in shy of analyst forecasts for both revenue and net loss, reports Business Week. Sprint also warned that it might have to sell off some “noncore assets” or take other measures to remain in compliance with financial covenants with lenders. But that won’t mean, Hesse asserted, getting rid of the Nextel business, as suggested in recent news reports. Nextel’s iDEN network is solely supported by Motorola. There have been reports that Sprint is considering selling it off. But Hesse, speaking to investors on Tuesday during the company’s annual shareholder meeting, said he wants iDEN to be the primary choice for Nextel customers. Hesse said the company was resolving problems on the first call to customer service at the highest rate since the Nextel merger in 2005. He also said the integration of the Sprint and Nextel billing systems, a source of chronic pain for employees and customers, is now “materially complete” and “getting positive feedback from the front lines.” On job cuts, Hesse said there would be further reductions, but noted that Sprint would avoid cutting jobs in customer care until the levels improve. Jobs in other area that affect the customer experience would be safe as well, he said. Overall, he said the year would continue to be difficult as the company turns itself around. Clearwire is planning to move onto Atlanta, Los Angeles, and Grand Rapids, Mich., with mobile WiMax deployments after it launches in Portland, Ore., in the second half of this year, the company said on its first quarter earnings call Monday evening. Clearwire ended the first quarter of 2008 with 443,000 users, up 72 percent on the previous year’s first quarter. Clearwire CTO John Saw said the different radio characteristics and topologies of the three cities will help the company understand more about deploying mobile WiMax. Analysts estimate it could take up to $12 billion, including backhaul costs, to fully deploy mobile WiMax in 50 U.S. markets. Clearwire says it wants to focus on the top 100 markets, filling coverage gaps with 3G. In related news, Sprint Nextel’s largest independent affiliate, iPCS, announced that three of its subsidiaries have filed a lawsuit against Sprint Nextel, claiming that its recently announced deal with Clearwire breaches iPCS’ exclusive arrangement with the carrier. iPCS is seeking declaratory judgment that Sprint Nextel’s arrangement with Clearwire would allow it to compete against iPCS and is therefore a breach of contract. In other news, Virgin Mobile USA is reportedly in talks with the much smaller and troubled MVNO Helio, says Moco News. Helio is now controlled by SK Telecom, after Earthlink stopped making further investments.
SK Telecom denies acquisition rumor
http://danstechnstuff.com/2008/05/13/sk-telecom-denies-acqui...
117 days ago in Dan’s Tech-n-Stuff Weblog · Authority: 37

SK Telecom denies acquisition rumor Posted on May 13, 2008 by Dan A few days ago mocoNews reported that according to a source Virgin Mobile and Helio were talking merger and one possible scenario was SK Telecom (owner of Helio) buying Virgin Mobile, do a cash infusion, then Virgin Mobile would buy Helio in an all-stock transaction. SK Telecom is denying the deal, saying that they are not in “any sort of talks” and that the rumors are “groundless.” Something interesting, though, is that they are “actively seeking” ways to grow their US cellular business. Something is likely up, SK Telecom is just not ready to talk about it. [Via Electronista] Filed under: tech | Tagged: helio, sk-telecom, sktelecom, tech, virgin, virgin-mobile, virginmobile |