Virgin Mobile buying SK Telecom's Helio
submitted: 2 months ago
submitter: cellsea
web site: www.guardian.co.uk
Virgin Mobile USA Inc said on Friday it will buy SK Telecom Co Ltd's money-losing U.S. mobile unit, Helio, for $39 million in stock, hoping a combination of their youth-focused services will help weather a slowing economy. South Korea's SK will also invest an additional $25 million in Virgin Mobile, as will the Virgin Group, which jointly owns Virgin Mobile with Sprint Nextel Corp.