Virgin Mobile Completes Acquisition of Helio for $38 Million

Authored by Mark Hefflinger on August 25, 2008 - 11:05am.

Warren, N.J. - Virgin Mobile USA has completed its acquisition of Helio, a cellular carrier owned by EarthLink Inc. and SK Telecom, for $38 million.

Under the deal, SK Telecom and EarthLink are receiving 13 million shares of Virgin mobile common stock.

SK Telecom and Virgin Group, owned by billionaire Richard Branson, will invest $25 million in Virgin Mobile.

http://www.virginmobileusa.com