Federal Trade Commission approves acquisition of Virgin Mobile USA
August 25th, 2009 Leave a comment Visited 44 times, 1 so far today
Federal Trade Commission approves acquisition of Virgin Mobile USA
Sprint Nextel has gained the approval from the Federal Trade Commission to acquire Virgin Mobile USA.
The deal is worth around $483 million.
FTC said that they have no objection to this deal.
Sprint still requires the approval from other government bodies like Federal Communications Commission.
Industry experts believe that the deal is likely to pass all the remaining hurdles though it would take some time.
Virgin Mobile USA operated in the US market using Sprint mobile network.
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August 26th, 2009 at 12:42 am
Virgin Mobile operated in the US market using Sprint mobile network! So what does the average Virgin Mobile customer gain in this merger – nothing. The service will still be poor and the network worse which is why Virgin has been reporting huge losses of clients in the second quarter. Now they have to give their phones away to the unsuspecting poor to get new clients.